Standard Chartered evacuates Dubai offices amid Iran war
London-headquartered Standard Chartered has begun to evacuate staff from its offices in Dubai following the latest escalations in the war in the Middle East.
The FTSE 100 giant boasts a large presence in the region as part of international expansion efforts across the United Arab Emirates but has now found itself caught in the growing conflict between the US and Iran.
Staff remain in the area remote working.
A spokesperson for the Iranian military command said on Wednesday: “The enemy left our hands open to targeting economic centres and banks belonging to the United States and the Zionist regime in the region.”
The evacuation from Standard Chartered – as reported by Reuters – comes as lenders step up precautionary measures in the wake of the latest warning from Iran.
The creation of the Dubai International Financial Centre (DIFC) in 2004 helped turbo charge the push for Dubai to attract financial firms.
By the end of 2025, the DIFC hosted more than 290 banks, 102 hedge funds, 500 wealth management firms and 1,289 family-related entities.
US financial giant Citigroup has also told staff to evacuate offices in the DIFC, according to a memo seen by Reuters.
Standard Chartered, Citi, HSBC swept up in conflict
HSBC, where boss Georges Elhedery has sought to expand across the region, has shuttered branches in Qatar amid the strikes in the region.
Elhedery said on Monday that the bank’s “conviction in the GCC’s (Gulf Cooperation Council) fundamentals and its future is unchanged”.
The bank also said on Wednesday: “We are actively following government guidelines alongside our internal plans to manage working arrangements. We are communicating safety advice with colleagues as appropriate.”
Fears have been further amplified of an extended conflict across the region following mixed messaging from the White House.
President Donald Trump told CBS News earlier this week the war was “very complete, pretty much”.
But then on the same day, hours later changes his tune stating: “We could call it a tremendous success right now… or we could go further. And we’re going to go further.”
Meanwhile, Iran’s Revolutionary Guard Corps issued a statement stating it they “who will determine the end of the war”.