The US financial group's measures are the latest sign of growing concern among banks after Iran threatened Gulf banking ​interests linked to the US ‌and Israel. Citi had moved to a fully remote model for all UAE-based staff and was continuing to serve clients without interruption, a spokesperson for the bank told Reuters. Citi told its staff to evacuate offices in the Dubai International Financial Centre and Dubai's Oud Metha district this week and to work from home until further notice. HSBC, another major global bank, has closed all branches in Qatar until further notice, a customer notice said, to ensure the safety of staff and customers. Citi said on its website that its phone banking service in the UAE was currently operating at a limited capacity and the processing of cheques would experience delays.

Source: The Edge Markets March 12, 2026 08:45 UTC