The UAE Central Bank has clarified that financial support provided under the Nafis program is intended as a government incentive to encourage Emiratis to work in the private sector.
However, under UAE banking rules, eligibility for personal loans or certain banking services requires stable, regular income. The Central Bank emphasized that Nafis payments are conditional and temporary, and therefore cannot be counted as stable income when assessing loan eligibility.
In a written response to a parliamentary question from Federal National Council member Sheikha Saeed Al Kaabi, the Central Bank told Al Khaleej that Nafis incentives are “time-limited, conditional, and cannot be relied upon as a stable source of income in the medium or long term.”
The Bank further explained that continued Nafis support depends on several factors, including the employee remaining in their private-sector role and meeting salary criteria. Support may be halted if the job status changes, the program duration ends, or eligibility conditions are updated.
However, the Central Bank confirmed that banks may, at their discretion and based on their risk management practices, consider Nafis support when assessing a customer’s overall credit profile.
The written response also aligns with Article 2 of the 2011 regulation governing personal loans and banking services, which stipulates that acceptable income must be stable, consistent, and verifiable throughout the loan term.
The regulation aims to strengthen transparency between banks and customers by setting clear rules for loan limits, repayment terms, monthly installments, and acceptable income sources to ensure borrowers can meet their obligations without undue financial pressure.
