Although I agree with the assertion that banks in this part of the world need to up the ante with regard to internet banking security, all is not as bad as some would make out.
Here's what I can impart from personal experience: I purchased property here a while back - no hidden costs. Bought a car using bank finance - got the cheque back after the last payment. Current personal loan rate - at least 1% lower than average rates in most of Europe.
Had my credit card illegally used (abroad) for a transaction - submitted a claim and was reimbursed, with interest, a few weeks later.
As I mentioned before, the banks do need to lose their naivety - the skimmer on the ATM was in place for a week before anybody took action- but it is by no means isolated to the UAE. Just ask our colleague who recently got fleeced in the US in a 'cloning' scam.
Oh, and the stuff about the provident fund - not likely.