Dubai, United Arab Emirates. Citibank will close most of its United Arab Emirates branches and financial centres through March 14 as a precaution, according to its website. The move comes as banks across the region pull staff from offices amid the deepening Middle East conflict.
UAE branch closures and remote work
Citibank said its branch at the Mall of the Emirates in central Dubai would remain open, with all affected locations expected to reopen on March 16. The bank has moved to a fully remote model for all UAE-based staff and said it was continuing to serve clients without interruption.
Office evacuations in Dubai
The bank told staff to evacuate offices in the Dubai International Financial Centre and Dubai’s Oud Metha district this week and work from home until further notice. A spokesperson said the decision to evacuate three buildings and close branches in the UAE was responsive to information received and consistent with prioritising staff safety.
Regional security concerns and other bank actions
The measures follow Iran’s threats against Gulf banking interests linked to the United States and Israel. The US-Israeli war on Iran has so far killed around 2,000 people, disrupting global energy markets and transport as the conflict has spread across the region.
HSBC has also closed all its branches in Qatar until further notice, citing the need to ensure the safety of staff and customers.
Service disruptions and business impact
Citibank said its UAE phone banking service was operating at limited capacity and that cheque processing would experience delays. The closures have also raised concerns about Dubai’s standing as a regional business hub, including worries over capital flight, layoffs and firms relocating elsewhere.
How will the temporary bank branch closures affect your banking needs in the UAE?
