UAE banking sector ranks first in global consumer trust index

The UAE banking sector ranked first in Asia, Africa, and Europe in the global Annual Trust Index Survey. Conducted by the UAE Banks Federation in collaboration with a global financial market research firm, the survey revealed consumers’ trust levels of UAE banks at 84 percent in 2022.

Surpassing prominent financial centers like Singapore, Hong Kong, and the US, the UAE banking sector has emerged as a trusted provider of reliable and top-notch financial services.

Globally, the UAE banking sector placed second in the survey. It ranked ahead of other global financial hubs such as the UK, China, Japan, and Germany. The UAE banking sector outperformed the average global trust index which stood at 67 percent.

Customer confidence

In addition, the UAE banking sector has maintained its position as the most trusted sector for the second year in a row. Over the past four years, the UAE banking industry’s trust index has experienced a steady climb. From eighth place in 2019, it rose to sixth in 2020, and finally secured the top spot in 2021 and 2022.

Source: Middle East Economy