Digital banking in the UAE

The article examines current trends in the development of digital banking in the United Arab Emirates. The author analyzes the key factors contributing to the digital transformation of the banking sector, including government initiatives, the growth of the number of Internet users and the development of fintech infrastructure. Particular attention is paid to the emergence of neo-banks, fully digital financial institutions with no physical branches, and their impact on the availability of banking services, especially for small and medium—sized businesses. The paper also identifies the main challenges of digitalization, such as cybersecurity, customer identification, and regulatory issues. Based on the analysis, it is concluded that digital banking is promising as one of the drivers of economic growth and financial inclusion in the UAE.