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In the bustling cities and vast deserts of the Arab world, a quiet transformation is taking place, one that doesn’t always make headlines but has the power to change lives.
It’s the transformation of financial inclusion, where technology becomes the great equaliser, enabling access, dignity, and opportunity for all.
Over the past few decades, millions have arrived in the region with aspirations of a better life. Among them are domestic helpers, construction workers, delivery riders, drivers, and retail attendants, individuals who form the backbone of many economies but have long remained excluded from the formal financial system.
For years, many migrant workers were paid in cash, had no access to bank accounts, and relied on costly and time-consuming remittance services. They were often invisible to providers of essential financial services.
This exclusion wasn’t due to a lack of ambition but to systemic barriers such as documentation requirements, high fees, and limited financial literacy.
Today, this is beginning to change. Advances in technology and the widespread adoption of smartphones are opening new doors. In the UAE, where expatriates make up nearly 88 per cent of the population, with approximately half belonging to the low-income or blue-collar segment, mobile banking and digital wallets are reshaping access to financial tools for underserved communities.
Growing mobile market
The mobile banking market in the GCC is projected to grow at a compound annual growth rate (CAGR) of 12.5 per cent from 2025 to 2033, driven by increasing smartphone penetration, growing digital literacy, and proactive regulatory support. In the UAE, the combined prepaid card and digital wallet market is expected to expand from $5.66bn in 2023 to $10.3bn by 2028 in total transactional value, reflecting a CAGR of 12.3 per cent. This growth is fuelled by an improved digital payment infrastructure, a thriving e-commerce industry, and a booming fintech market.
But access alone is not enough. Without the knowledge to use these tools safely and wisely, many remain vulnerable to scams, debt traps, and poor financial habits. Financial literacy is the essential counterpart to financial access.
That’s why human-centered design is key. Solutions must be simple, multilingual, culturally relevant, and built with empathy.
Through initiatives like myZoi Money Tips, more than 2,200 blue-collar workers have participated in 12 community workshops and one large-scale community event, while digital content has garnered over 22 million views across social media, the app, and the website.
The team listens closely to the needs of users, visiting shared accommodations, conducting in-depth interviews, and continuously refining services to reflect real challenges and aspirations. And it’s working. Tangible shifts in engagement and trust are already being seen.
Breaking cycles of inequality and enabling economic mobility
Financial inclusion isn’t just about banking; it’s about breaking cycles of inequality and enabling economic mobility. It’s about recognizing that inclusion is not a luxury, but a right.
To build a more inclusive financial ecosystem, collaboration is essential. Governments, regulators, fintech innovators, employers, and civil society must work together to ensure that no one is left behind.
With the UAE’s vision, and initiatives like the Central Bank’s Financial Infrastructure Transformation (FIT) Program, the region is at the cusp of meaningful, systemic change. By combining access, education, and empathy, the Middle East can lead by example, proving that when inclusion is intentional, it becomes transformational.
The journey is far from over. But with the right tools, the right mindset, and strong partnerships, every worker and every family can be empowered to turn their dreams into reality.
The writer is the CEO at myZoi.
Read: How Saudi Arabia’s fintech scene is evolving
