Major banks evacuate Dubai offices after Iranian threats

Major international financial institutions have begun evacuating offices and closing branches across the Middle East as regional geopolitical tensions escalate. Citigroup Inc. and Standard Chartered PLC have directed employees in the United Arab Emirates to work from home, responding to heightened security concerns after threats were issued against Western financial interests. The move by Citigroup Inc. affects its operations within the Dubai International Financial Centre and the Oud Metha neighborhood, with a spokesperson confirming that contingency plans are in place to ensure business continuity while prioritizing staff safety. Similarly, Standard Chartered PLC, which is headquartered in the United Kingdom, has a substantial footprint in Dubai, serving as a regional hub for its senior leadership.