Standard Chartered responds to reports of evacuations at its Dubai offices
Bank says services continue as staff work from home across Middle East offices
Dubai: Standard Chartered said its operations in Dubai and across the Middle East are continuing under work-from-home arrangements, clarifying recent international media reports about its offices in the emirate.
In a statement, the bank said its priority remains the safety and wellbeing of employees while maintaining services for clients.
“At Standard Chartered, our focus is the safety and wellbeing of our colleagues. With this in mind, we are maintaining normal service under work-from-home arrangements in the Middle East,” the bank said.
“Contrary to some media reporting, these arrangements were recently extended in Dubai,” the bank said, addressing reports suggesting evacuations from its Dubai offices.
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Monitoring developments
Britain’s Standard Chartered, which has a large presence in the UAE, said it continues to monitor developments while maintaining support for clients across the region.
“While we continue to monitor developments closely, the UAE and our other Middle East markets remain an important part of our global network, through which we continue to support clients navigating a complex and fast-moving environment.”
Dubai hosts regional operations for many global banks, particularly in the Dubai International Financial Centre. The emirate has become a key financial hub for international lenders including JPMorgan Chase and HSBC.
A report by Reuters said some financial institutions have asked staff in Dubai to work remotely while monitoring regional developments, with Citigroup instructing employees in its Dubai offices to work from home until further notice and staff at Goldman Sachs across the region also working remotely.
GCC outlook unchanged
HSBC chief executive Georges Elhedery said earlier this week the bank’s outlook for the Gulf Cooperation Council economies remains unchanged. “Our conviction in the GCC’s fundamentals and its future is unchanged,” Elhedery said.
Standard Chartered said the UAE and the wider Middle East remain an important part of its global network as it continues to support clients across the region.
