Citi joins JPMorgan, others in switching to Mon-Fri work week in UAE -Breaking
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© Reuters By Anirudh Saligrama
(Reuters) – Citigroup According to a Reuters internal memo, Inc (NYSE:), will switch to a Saturday-Sunday weekend starting in the New Year in United Arab Emirates (UAE). This makes it the latest international bank to change its work week in the gulf country.
Citi UAE plans to move its corporate offices to Monday-Friday full work days, including a fixed two hour break on Friday afternoon. Employees are expected to resume work following the break.
Citi’s decision comes as other global banks in the nation are changing to a Monday-Friday work week from next year instead of the current Sunday-Thursday — as is common around the Middle East.
Reuters had reported on Sunday of Deutsche Bank AG (NYSE:), JPMorgan Chase & Co (NYSE:) and Societe Generale (OTC:) SA’s move to switch to a Saturday-Sunday weekend from 2022 in UAE.
Citibank branches located in Sunni Muslim-ruled countries will still be open from Monday to Saturday, and close on Sunday according to an internal note. The branches will be open from 0730 to 1230 on Friday, and 800 to 1400 on the rest of the work days.
Wall Street’s UAE bank unit welcomed changes in work hours by the UAE government. The note stated that the bank was making this move to adapt to the structure of the UAE and to comply with opening hours requirements.
According to the UAE, Dec. 7th was a day when it announced its intention to shift to a 4 1/2-day week and a Saturday-Sunday weekend starting in next year. The private sector was allowed to pick their work week.
In the face of growing economic rivalry between Saudi Arabia and the UAE, the UAE has made efforts to attract foreign talent to its economy over the past year.
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