By Anirudh Saligrama

(Reuters) – Deutsche Bank AG (NYSE:) and JPMorgan Chase & Co (NYSE:) are changing to a Saturday-Sunday weekend from the New Year in the United Arab Emirates (UAE) which is aligning its working week with most global markets.

A source told Reuters that the German lender will be open Monday to Friday in the Sunni Muslim-ruled nation starting January 3. This is an improvement on the Sunday-Thursday practiced elsewhere in the Middle East.

Wall Street-based JPMorgan is also adapting the same week in UAE https://www.reuters.com/world/middle-east/uae-announces-move-saturday-sunday-weekend-state-news-agency-2021-12-07, along with flexible practices such as a break for Muslim prayers on Fridays, the bank said in a statement.

Bloomberg News was the first to report https://bloom.bg/3GXvwrq on Sunday that JPMorgan, Deutsche Bank (DE:), Bank of America Corp (NYSE:) and Societe Generale (OTC:) SA will switch to a Saturday-Sunday weekend in the UAE.

Representatives of Bank of America or Societe Generale didn’t immediately reply to Reuters requests for comment.

Following a UAE statement on Dec. 7, the UAE stated that its four-and-a half-day week would be replaced by a Saturday-Sunday week starting in next year.

However, private companies can choose to work in the Gulf’s oil-producing state, which serves as the region’s trade, tourism, and commercial hub.

In an era of rising economic rivalry between Saudi Arabia and the UAE, UAE has made efforts to attract foreign talent to its economy over the past year.