Yes, most UAE banks offer a loan buyout or balance transfer facility, where a new bank settles your existing loan with your current lender and issues you a new loan, typically at a lower rate or better terms, in its place. This can meaningfully reduce your EMI or total interest cost if rates have moved since you took the original loan, though it usually involves a liability letter from your current bank, a processing fee at the new bank, and sometimes a short administrative gap while the transfer completes.
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