Citi keeps most UAE branches shut indefinitely over Iran war

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Citi keeps most UAE branches shut indefinitely over Iran war

March 17, 2026

DUBAI,— Citigroup said on Monday it will keep most of its branches and offices in the United Arab Emirates closed until further notice after shutting them temporarily last week, as the Iran war continues to affect the banking sector.

The conflict, now in its third week, involves the United States and Israel against Iran and has killed at least 2,000 people.

The fighting has disrupted global energy markets and transport systems as violence spreads across the Middle East.

Dubai has been hit several times, including strikes on its airport and main financial district where many international banks operate. These incidents have weakened the emirate’s position as a regional center for tourism and business.

The decision by Citi highlights the difficulties banks face in maintaining operations while limiting access to physical branches during the conflict.

Iran’s Islamic Revolutionary Guard Corps said last week it would target banks linked to the United States and Israel after a bank in Tehran was struck.

HSBC also said on Monday it had closed some of its UAE branches until further notice. However, customer service centers located in shopping malls remain open.

The bank has also shut all but one of its branches in Qatar.

Citi reported exposure of $17.3 billion in the UAE at the end of 2025, including loans.

In a message sent to clients on Saturday, Citibank directed customers to use its online banking platform and mobile app.

The bank said it continues to provide services in the UAE and Bahrain without interruption despite the closures.

One branch at the Mall of the Emirates in central Dubai remains open with reduced working hours.

The conflict expanded after the United States and Israel carried out large-scale strikes on Iran on February 28, 2026.

Iran has responded with missile and drone attacks targeting Israel and U.S.-allied Gulf states, including the UAE. These attacks have included civilian locations and energy facilities.

Further strikes have hit airports, seaports, hotels, residential areas, and oil sites in Dubai and Abu Dhabi, the report said.

(With files from Reuters)