Banks in the country will continue to operate for six days a week, including Fridays, once the new working week rule comes into effect, the UAE Central Bank said in a circular.
Banking halls should operate for a minimum of five hours a day, six days a week, “except for working hours during the holy month of Ramadan”, the circular said.
“It is left to the banks to determine the working hours and days of the administration and the back offices, as needed, and implement a shift system for the branches,” the circular seen by Gulf News said.
The UAE government earlier this week announced that the country will transition to a four-and-a half-day working week, with Friday afternoon, Saturday, and Sunday forming the new weekend. All Federal government departments will move to the new weekend from January 1, 2022.
The authorities added that with this move, the UAE became the first nation in the world to introduce a national working week shorter than the global five-day week.
All emirates, too, have announced that their public sector offices will be shifting to the new weekend schedule. Sharjah, meanwhile, will be switching to a four-day working week, with Friday, Saturday and Sunday forming the weekend.
UAE’s stock markets, too, will follow the new weekly schedule from the New Year.
The Dubai Financial Market (DFM) will be following the Monday to Friday trading week starting January 3, 2022, and trading sessions will run from 10am until 3pm during these days. The Abu Dhabi Securities Exchange (ADX) will follow a similar schedule.
