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Dubai Banks Shift To Remote Work As Iran War Rages; Debris From Aerial Interception Falls On Building

Dubai has emerged as a major financial hub for global lenders including JPMorgan and HSBC, as well as law firms and asset managers with large regional operations.

Dubai Banks Shift To Remote Work As Iran War Rages; Debris From Aerial Interception Falls On Building

Authorities in Dubai on Thursday responded to a minor incident after debris from a successful interception fell onto the façade of a building on Sheikh Zayed Road. No injuries were reported, the Dubai Media Office said.

Meanwhile, major international banks have begun taking precautionary measures amid rising regional tensions. Citigroup and Standard Chartered have asked staff in Dubai to evacuate offices and work from home, Reuters reported on Wednesday, citing sources.

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According to a memo seen by Reuters, US financial giant Citigroup instructed employees to leave its offices in the Dubai International Financial Centre (DIFC) and Dubai's Oud Metha area and shift to remote work until further notice. Standard Chartered has also taken similar steps as banks increase security precautions.

Dubai has emerged as a major financial hub for global lenders including JPMorgan and HSBC, as well as law firms and asset managers with large regional operations.

Separately, HSBC has temporarily closed all its branches in Qatar to ensure the safety of staff and customers, according to a customer notice cited by Reuters.

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The precautionary measures follow a warning from Tehran. A spokesperson for Iran's Khatam al-Anbiya military command headquarters said on Wednesday that Iran would target economic and banking interests linked to the United States and Israel in the region after an attack on an Iranian bank, according to Armenpress.

Authorities have not reported any injuries or major damage from the debris incident in Dubai, and monitoring of the situation is ongoing.

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