Citibank will temporarily shut most of its branches and financial centres across the United Arab Emirates until March 14 as a precautionary measure amid the intensifying conflict in the Middle East, according to an update on the bank’s website on Thursday. The only branch that will remain operational is located at the Mall of the Emirates in central Dubai. The bank said all other affected branches are expected to reopen on March 16.
The move reflects rising concerns among global financial institutions after Iran warned it could target Gulf banking interests linked to the United States and Israel. The ongoing U.S.–Israel war with Iran, which began nearly two weeks ago, has reportedly claimed around 2,000 lives and disrupted global energy markets and transport routes. The conflict has widened across the region, with Iranian strikes targeting Israel, U.S. military bases, and several Gulf states.
Earlier this week, Citibank also asked employees to evacuate offices located in the Dubai International Financial Centre and the Oud Metha area of Dubai, directing staff to work from home until further notice. Meanwhile, another global lender, HSBC, has shut all its branches in Qatar until further notice, citing safety concerns for both staff and customers. The escalating regional tensions have also raised concerns about Dubai’s reputation as a stable business hub, with fears of capital outflows, job losses, and companies considering relocation, according to a recent Reuters report. Citibank further noted that its Citiphone banking services in the UAE are currently operating at limited capacity, while cheque processing may experience delays during this period.