Iran-US War: Citi, StanChart Evacuate Dubai Offices; HSBC Shuts Qatar Branches

Major international banks have begun taking precautionary measures across the Gulf as tensions escalate in the ongoing Iran-US conflict. Financial giants Citigroup (Citi) and Standard Chartered have evacuated their offices in Dubai, while HSBC has temporarily closed its branches in Qatar.

Banks Evacuate Staff from Dubai Offices

Sources say employees of Citigroup and Standard Chartered were instructed to leave their offices in Dubai and work remotely until further notice. The decision was taken as a safety precaution after Iran warned that it could target financial institutions linked to the United States and Israel in the region.

The evacuation affects offices located in major financial hubs such as the Dubai International Financial Centre (DIFC), which hosts hundreds of international banks and financial institutions.

HSBC Shuts Branches in Qatar

Meanwhile, HSBC has closed all its branches in Qatar as a precautionary step to protect staff and customers. The bank informed clients that the closures will remain in place until further notice while the security situation is assessed.

Officials said the move is part of broader contingency plans adopted by international banks operating in the Gulf.

Iran Warns of Attacks on Economic Targets

The precautionary measures follow warnings from Iranian military officials that economic and financial institutions linked to the US and Israel could become targets. The threat reportedly came after an administrative building connected to an Iranian state bank was hit in Tehran.

Security alerts have since been issued across several Gulf countries as governments and businesses prepare for potential escalation.

Impact on Gulf Financial Hubs

Dubai has long been considered one of the safest and most stable financial centres in the Middle East. However, the growing conflict has raised concerns about the region’s economic stability and the safety of multinational companies operating there.

Analysts warn that if tensions continue to rise, more companies may shift operations, implement remote work policies, or temporarily suspend activities in the region.

Situation Continues to Develop

The situation remains fluid as governments and financial institutions closely monitor developments in the Middle East conflict. Further security measures or operational changes may be implemented if tensions escalate further.

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