High Consumer Trust Index confirms UAE’s momentum in banking sector

High Consumer Trust Index confirms UAE’s momentum in banking sector

Banking sector remains at the top of the most trusted sectors in the UAE 100% of customers confirm significant improvement in banking services in 2022 Abu Dhabi, United Arab Emirates: UAE Banks Federation, the sole representative and unified voice of UAE banks, revealed that customer confidence in the UAE banking sector remains among the highest, which stood at 84% in 2022, according to the Annual Trust Index Survey conducted by the federation in collaboration with a global financial market research firm specialising in data collection. The UAE banking sector outperformed the average global trust index, which reached 67%. This placed the UAE second in the world and first in Asia, Africa and Europe, surpassing several advanced global centres for financial and banking services such as Singapore, Hong Kong, Taiwan, Malaysia, Canada, the United States of America, the United Kingdom, China, Japan, France and Germany. The banking sector remained the most trusted sector in the UAE for the second consecutive year. Over the past four years, the sector index rose from eighth place in 2019 to sixth in 2020 and then to first place in 2021 and 2022. The Trust Index found that 85% of respondents are convinced that banks operating