Citibank shuts UAE offices as Iran threats rattle Gulf banking

Citibank has shut almost all of its branches in the United Arab Emirates and moved staff out of key offices in Dubai, as the fallout from the US-Israeli attack on Iran spreads into the Gulf’s banking sector. Reuters reported that Citi closed all UAE branches except its Mall of the Emirates outlet and told employees at its Dubai International Financial Centre and Oud Metha offices to work remotely for several days. According to reports, the move came after Iran’s Khatam al-Anbiya Command warned that banking and economic interests linked to the US and Israel across the Gulf could become targets. Other international banks have also taken precautionary steps, with Standard Chartered evacuating offices in Dubai and HSBC temporarily closing branches […]