Dec 20 Reuters -- Citigroup Inc is moving from the New Year to a Saturday-Sunday weekend in the United Arab Emirates UAE, according to an internal note by the bank, becoming the latest international bank in the gulf nation to switch its work week.
The note said that employees are required to return to work after the fixed break, as the country's corporate offices will be moved to a Monday to Friday full working days structure.
Citi's decision comes at a time when 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.
Deutsche Bank AG JPMorgan Chase Co and Societe Generale SA have switched to a Saturday-Sunday weekend from 2022 in UAE, according to a report by Reuters on Sunday.
However, the branches of Citibank in the Sunni Muslim-ruled country will be closed Monday through Saturday and will remain closed on Sunday, as per the internal note. Its branches will operate from 0730 hours to 1230 hours local time on Friday and 0800 hours to 1400 hours on the rest of the working days.
The note said that the bank's UAE unit, which welcomed the new work week changes by the government in the country, said it was intended to adapt to the new structure and comply with the country's central bank's opening hours requirement.
The UAE had said on December 7 that it would shift to a four-and-a-half day week with a Saturday-Sunday weekend from the start of next year. Private companies were free to choose their own working week.
The UAE has taken measures to make its economy more attractive to foreign investment and talent, despite growing economic rivalry with Saudi Arabia over the past year.