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City asked its employees this week to vacate their offices in the Dubai International Financial Centre (AP)
Citibank announced on its website on Thursday that it will close most of its branches and financial centers in the UAE until March 14 as a precautionary measure, amid rising tensions in the Middle East following the US-Israeli war on Iran.
The American bank said it planned to reopen all branches on March 16, with its branch at Mall of the Emirates in central Dubai remaining open.
He confirmed that all banking services will continue by phone and work remotely, despite limited capacity in some transactions, noting that the processing of checks will be delayed.
“The decision to evacuate 3 of our premises and close branches in the UAE came after information we received and in line with our commitment to prioritise the safety of our colleagues,” the bank spokesperson told Reuters.
The move comes amid growing concerns among financial institutions following Iran’s threats to banking interests linked to the United States andIsrael in the Gulf.
This also came after several banks instructed their employees to work from home amid the intensification of the crisis in the Middle East.
The spokesperson said that the bank has moved to a fully remote working system in the UAE and that it continues to provide services to customers without interruption.
City this week asked its employees to vacate their offices in the Dubai International Financial Centre (DIFC) and Oud Metha district in the emirate and asked them to work from home until further notice.
Meanwhile, a notice to customers said HSBC Bank had closed all its branches in Qatar until further notice, stating that the measure was aimed at ensuring the safety of employees and customers, Reuters reported.
Reuters said last week that the war had negatively affected Dubai’s attractiveness to international companies as a reliable economic hub in the region, raising fears of capital flight, layoffs and relocation of companies.