Global banking giant Citibank has temporarily shut several of its branches and financial centres across the United Arab Emirates as a precautionary measure amid escalating geopolitical tensions in the Middle East.
The move affects most Citi branches across the country for a short period in mid-March, as financial institutions in the Gulf region tighten security measures to safeguard staff and customers during the ongoing crisis.
Citibank UAE branches are temporarily closed
According to the bank’s announcement, most Citibank branches and financial centres across the UAE will remain closed from March 12 to March 14 as part of a precautionary response to the evolving regional situation.
The bank said it expects to reopen the affected locations on March 16, once the situation stabilises. During the temporary closure, however, one branch located at the Mall of the Emirates will continue operating, ensuring customers still have access to in-person banking services if required.
Customers can also continue using digital banking services, ATMs and online platforms to carry out routine transactions during the closure period.
Regional security concerns prompt banking measures
The temporary closure comes amid heightened tensions across the Middle East following threats linked to the ongoing Iran–Israel conflict, which has raised concerns for businesses and financial institutions operating in the Gulf.
In response to the situation, Citigroup, the parent company of Citibank, has also asked employees at its offices in Dubai International Financial Centre and Oud Metha to work from home until further notice. The measure aims to reduce risk while maintaining normal banking operations remotely.
The Gulf region hosts hundreds of international financial firms, which are adopting precautionary measures like remote work and temporary branch closures to prioritise employee safety.
Mall of the Emirates branch remains open
While most branches are temporarily closed, Citibank confirmed that one branch in Dubai will remain open to assist customers who require in-person banking services during the precautionary shutdown period.
The operational branch is located at Mall of the Emirates, one of the city’s major commercial hubs. The branch is expected to operate during regular banking hours, typically from around 10am to 4pm, though customers are advised to check ahead for any updated timings before visiting.
During this period, the branch will handle essential banking services, including account inquiries, urgent financial transactions, card-related issues, and general customer assistance.
However, customers may experience longer waiting times due to limited in-person service availability across the bank’s UAE network.
To reduce crowding and ensure smoother service, the bank is encouraging customers to rely on ATMs, online banking and mobile banking platforms for routine transactions such as transfers, bill payments and balance checks. These digital services remain fully operational and are available 24/7.
Other global banks take similar precautions
Citibank is not the only financial institution adjusting operations in response to the security situation. Reports indicate that Standard Chartered has also taken steps to evacuate staff from some Dubai offices and shift employees to remote working arrangements.
Meanwhile, HSBC temporarily shut its branches in Qatar as part of wider precautionary measures in the region.
These actions highlight how global financial institutions are closely monitoring the situation and adjusting operations to ensure safety while maintaining essential services.
IRGC warnings prompt financial sector response
The precautionary closures follow statements by Iranian military officials warning of retaliatory strikes against American and Israeli financial targets.
The threats represent an expansion of Iran's retaliatory campaign beyond military installations to include economic infrastructure, raising concerns about the vulnerability of the Gulf region's financial sector.
Citibank's decision reflects growing anxiety among international businesses operating in the region as the conflict between Iran and US-Israeli forces continues to intensify.
Conflict expands to economic front
The banking sector disruptions mark a new phase in the regional conflict, which began with US-Israeli strikes on Iran Feb. 28 and has steadily expanded to encompass multiple fronts.
With more than 1,300 Iranians killed, including former Supreme Leader Ayatollah Ali Khamenei, and eight American service members dead, the conflict now threatens to disrupt the economic infrastructure of Gulf states hosting US financial institutions, potentially triggering broader economic repercussions across the region.
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