CBUAE's 2024 Report Highlights Resilience of UAE Financial System and Banking Sector

UAE, 07 August, 2025 : The Central Bank of the UAE (CBUAE) has released its 2024 Financial Stability Report, affirming the strength and stability of the country’s financial system amid global economic challenges. The report highlights the resilience of the UAE banking sector, supported by strong capital and liquidity buffers, improved asset quality, and steady growth.

Despite global risks, financial stability risks in the UAE remained broadly contained, thanks to sound economic fundamentals and proactive risk management. The CBUAE emphasized continued regulatory enhancements, including new macroprudential tools, strengthened cybersecurity, and advancements in sustainable finance and climate risk assessments.

The operational launch of the UAE Financial Stability Council, chaired by His Highness Sheikh Mansour bin Zayed Al Nahyan, marked a key milestone in enhancing systemic risk oversight and coordination among financial stakeholders.

The UAE’s real GDP grew by 4% in 2024, driven by strong non-oil sector performance, with growth expected to reach 4.4% in 2025 and 5.4% in 2026. Stress tests confirmed banks' ability to withstand economic shocks, while non-bank financial institutions, including the insurance and exchange sectors, also showed solid performance and operational resilience.

Digital transformation efforts gained momentum with the rollout of the "Jaywan" domestic card scheme, increased adoption of the “Aani” instant payment platform, and progress in the development of the “Digital Dirham” CBDC.

CBUAE Governor H.E. Khaled Mohamed Balama reaffirmed the central bank’s commitment to ensuring financial system stability and achieving sustainable economic growth in alignment with the UAE’s strategic development goals.