Citigroup and Standard Chartered have urgently evacuated their headquarters in Dubai, moving all personnel to remote work effective immediately. The decision comes as part of a rapid response to deteriorating security conditions in the region.
In a simultaneous move, HSBC has frozen the operations of all its Qatari divisions for an indefinite period. The bank has not provided a specific timeline for when normal business activities might resume.
These drastic measures by global financial leaders are a direct reaction to threats issued by the Iranian military. Tehran has warned of potential strikes against key financial hubs that maintain cooperation with Washington or Tel Aviv, sparking fears of targeted attacks on international banking infrastructure in the Middle East.