A number of internationally recognized banks are operating in Abu Dhabi, offering their standard products. The dirham is freely convertible, and money transfers of unlimited amounts are allowed.

Banking hours in Abu Dhabi for international and local banks are 8.00 am to 1.00 pm from Saturday to Wednesday and there are a few who have an extended session from 4.30pm to 6.30 pm. The working hours on Thursdays are from 8.00am to 12 noon.

These and the local banks have ATM kiosks installed at convenient spots in and around the city. The debit and credit cards of all issuing banks are compatible and can be used at all outlets.

To open an account in Abu Dhabi, a residence visa is mandatory. Banks also accept applications in cases where the residence visa is under process. Employers generally take care of this aspect and endorse an application for you.

The documents required to open an account are: passport in original, copies of the passport, and a No Objection Certificate from your sponsor. A minimum amount may have to be deposited to open the account.

Banks in Abu Dhabi offer a range of saving schemes for expats, with professional services on investment planning. Some of the reputed banks offering financial advisory services are: the Abu Dhabi Commercial Bank, Barclays Bank, Emirates Bank International, Mashreq bank and National Bank of Abu Dhabi to name but a few.

For a list of the most popular banks preferred by expats in Abu Dhabi, click here (PDF file).

A branch of the National Bank of Abu Dhabi operates at Terminal 1 and 2, and offers basic banking facilities for account holders. The Abu Dhabi Islamic Bank also has a branch at the International Airport.

There are 5 currency exchange counters at both terminals of the airport which operate throughout the day and accept all major currencies.

Currency

The dirham is the monetary unit of Abu Dhabi as in the rest of the UAE, denoted by the letters AED, or Dhs. Each dirham has 100 fils.