--- title: "ZAWYA: FAB launches Payit Universal account to advance financial inclusion in the UAE" type: "News" locale: "en" url: "https://longbridge.com/en/news/286383812.md" description: "First Abu Dhabi Bank (FAB) has launched the Payit Universal Account, a mobile-based account aimed at enhancing financial inclusion in the UAE. This account allows individuals earning up to AED 5,000 to access essential banking services without a minimum balance. It supports local and international money transfers, bill payments, and salary disbursement, aligning with the Central Bank of the UAE’s financial inclusion initiative. The account is designed for secure, everyday use and is available in multiple languages, reinforcing FAB's commitment to expanding access to regulated financial services in the UAE." datetime: "2026-05-14T08:33:54.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286383812.md) - [en](https://longbridge.com/en/news/286383812.md) - [zh-HK](https://longbridge.com/zh-HK/news/286383812.md) --- # ZAWYA: FAB launches Payit Universal account to advance financial inclusion in the UAE **Abu Dhabi, UAE:** First Abu Dhabi Bank (FAB), the UAE’s global bank and one of the world’s largest and safest financial institutions, has launched the Payit Universal Account, a multi-service mobile-based account designed to expand access to essential financial services for underserved segments across the UAE. The initiative aligns with the Central Bank of the UAE’s (CBUAE) financial inclusion initiative. The Payit Universal Account has been introduced under the CBUAE’s Universal Accounts framework, enabling individuals who may not qualify for traditional banking products, including those earning up to AED 5,000, to access simple, regulated banking and payment capabilities through a fully digital experience. Designed for secure, everyday use, the Payit Universal Account offers a fully digital onboarding experience with no minimum balance requirement. Customers can access a range of essential services, including local and international money transfers, bill payments, merchant transactions, and cash withdrawals and deposits through FAB ATMs. Customers who choose to transfer their salary through Payit may also unlock additional benefits such as lending facilities, rewards, and enhanced everyday banking features to further support their money needs. The Payit Universal Account also enables employers to simplify and modernise salary disbursement under a fully CBUAE-compliant, WPS-aligned framework. By allowing salaries to be credited directly into a regulated, IBAN-enabled digital account, employers can move away from legacy salary card models, reducing operational risk, administrative overheads, and payroll complexity. The solution supports seamless digital salary transfers for employees, improving payroll efficiency, transparency, and auditability while meeting financial inclusion obligations. For employees, salaries are instantly accessible through a secure, zero-minimum-balance account that supports everyday payments, remittances, and card transactions, driving higher satisfaction, safety, and financial stability across the workforce. The launch reinforces FAB’s role in advancing the UAE’s financial inclusion agenda by expanding access to regulated financial services. By introducing Payit Universal Account and leveraging well-established Payit ecosystem, FAB is helping bridge the gap between basic financial access and full banking services, enabling more individuals to participate in the formal financial ecosystem. Advancing financial inclusion remains a key priority across the UAE’s financial ecosystem, with the Universal Accounts framework providing a structured pathway to expand access to regulated financial services at scale. Through Payit, FAB is supporting this objective with a digital solution that broadens access while maintaining strong standards of governance, security, and customer trust. Payit has been developed to deliver accessible, user-friendly financial solutions that address the evolving needs of customers. The Universal Account extends these capabilities to a wider segment of the population, offering a seamless digital experience with multi-language support and a comprehensive suite of everyday financial services. This further strengthens Payit’s role in supporting inclusive digital banking in the UAE. Available through the Payit app, the account supports multiple languages, including English, Arabic, Hindi, and Urdu, ensuring accessibility for a diverse customer base. The launch aligns with national priorities to expand access to financial services and support financial inclusion. **About First Abu Dhabi Bank (FAB)** Headquartered in Abu Dhabi with a global footprint beyond 20 markets, FAB is the finance and trade gateway to the Middle East and North Africa region (MENA). With total assets of AED 1.49 trillion (USD 406 billion) as of March-end 2026, FAB is among the world’s largest banking groups. The bank provides financial expertise to its wholesale and retail client franchise across three business units, including Investment Banking & Markets, Wholesale Banking, and Personal, Business, Wealth & Privileged Client Banking Group. FAB is listed on the Abu Dhabi Securities Exchange (ADX) and rated Aa3/AA-/AA- by Moody’s, S&P, and Fitch, respectively, with a stable outlook. On sustainability, FAB holds an MSCI ESG rating of ‘AA’, ranks first among MENA banks and is within the top tier of global banks according to LSEG ESG Scores (formerly Refinitiv ESG Scores). FAB is also rated in the best Sustainalytics ESG Risk Rating category among global banks, with a Low ESG Risk. For further information, visit: www.bankfab.com To access our latest disclosures and presentations, please visit www.bankfab.com/en-ae/about-fab/investor-relations For investor-related queries, please contact FAB Investor Relations team on ir@bankfab.com **About Payit Digital Wallet** Payit is a multi-service digital financial platform designed to help customers send, spend, save, and borrow through one simple and secure app experience. Built around everyday money needs, Payit enables customers to send money locally and internationally, pay bills, shop online and in-store, access digital payments, receive salaries, earn rewards, and access instant borrowing and microfinance capabilities. Payit offers customers a range of account options, including the Payit Universal Account and Payit Plus salary account, providing accessible and user-friendly digital experiences designed to support different customer needs and lifestyles. With multilingual support, fast digital onboarding, rewards, and a growing ecosystem of everyday money features, Payit continues to expand access to digital banking experiences and support inclusive digital banking across the UAE. Send us your press releases to pressrelease.zawya@lseg.com Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. 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