Citigroup evacuates UAE offices following regional threat warnings

Citigroup evacuated three of its buildings in the United Arab Emirates as escalating tensions in the Middle East prompted US banks to update security guidance for employees.

Representatives for Citi confirmed to Business Insider that the bank has moved to a fully remote working model while assessing the situation in the UAE, which lies across the narrow Strait of Hormuz from Iran, Caliber.Az reports, citing foreign media.

The bank had previously instructed employees to work from home before expanding the measure to cover all staff in the country.

"The vast majority of our people in the UAE have been working remotely, and we have now moved to a fully remote model for all UAE-based colleagues," representatives said. "We are continuing to serve our clients without interruption. The decision to evacuate three of our buildings in the UAE was responsive to information we received and is consistent with our commitment to prioritize the safety of our colleagues. All colleagues are accounted for and are safe," the representatives added.

The precautionary move comes after Iranian military leaders warned on Wednesday that they could target banks and financial institutions across the region. The warnings followed US strikes on Iran that began in late February and reportedly resulted in the death of longtime Supreme Leader Ali Khamenei.

Major UAE cities such as Dubai and Abu Dhabi serve as key regional hubs for finance and industry, heightening concerns among international banks operating in the Gulf.

Other financial institutions are also closely monitoring developments. A person familiar with internal policies at Goldman Sachs said the firm’s primary focus is employee safety and that teams across the region have been instructed to work from home and follow local security guidance.

By Vafa Guliyeva