Citi Closes Most UAE Branches Temporarily as Middle East Conflict Escalates

itigroup has temporarily shut most of its branches and financial centres in the United Arab Emirates until March 14, citing security concerns linked to the escalating conflict in the Middle East.

The U.S. banking giant, which operates under Citibank, announced the precautionary closure on Thursday, noting that the move followed rising tensions after Iran threatened Gulf banking interests connected to the United States and Israel.

According to information posted on the bank’s website, most branches will remain closed through March 14 and are expected to reopen on March 16. However, the Citi branch located at the Mall of the Emirates in Dubai will remain open.

A spokesperson for the bank said the company had shifted all UAE-based employees to remote work while continuing to provide services to clients without interruption.

“The decision to evacuate three of our buildings and to close branches in the UAE was responsive to information we received and is consistent with our commitment to prioritise the safety of our colleagues,” the spokesperson said.

Staff were reportedly evacuated from offices in the Dubai International Financial Centre and the Oud Metha district earlier this week as part of the precautionary measures.

The move comes amid a widening regional crisis involving Iran, Israel and the United States. The conflict has reportedly claimed about 2,000 lives and disrupted global energy markets and transportation routes as hostilities spread across the Middle East.

Other financial institutions are also taking similar safety steps. HSBC, one of the world’s largest banks, has closed all its branches in Qatar until further notice to protect staff and customers.

Analysts say the growing insecurity could undermine Dubai’s reputation as a stable financial hub for international businesses, raising concerns about potential capital flight, layoffs and companies relocating operations elsewhere.

Meanwhile, Citi disclosed that its phone banking services in the UAE are currently operating at limited capacity, while cheque processing may face delays.