Financial Cards and Payments in the United Arab Emirates - New Study Released
The pre-paid card market saw strong growth, with leading banks focussing on the unbanked population, particularly targeting low-income expatriate workers. White- and blue-collar expatriates comprise 85% of the UAE's labour force. 1.8 million blue-collar workers are under the government's pre-paid payroll initiative, the Wage Protection System (WPS). Around 1.2 million unbanked workers present a huge opportunity for banks. Growth is boosted by a hefty remittance market and a large young...
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