A senior official from the UAE Banks Federation has dismissed rumors that the current regional geopolitical unrest has triggered job losses within the banking sector. AbdulAziz Abdulla Al Ghurair, chairman of the federation, clarified that while some third-party service providers—such as those handling credit card distribution—have seen reduced contracts due to market shifts, these individuals are not direct employees of the banks. He emphasized that the nation’s banking institutions have not implemented any layoffs as a result of the ongoing conflicts involving the US, Israel, and Iran.

While direct employment remains stable, Al Ghurair noted that banks are naturally evolving by integrating artificial intelligence and expanding digital services, which is gradually leading to a smaller branch footprint. He described this shift as a healthy progression for the industry rather than a reaction to instability. Meanwhile, UAE banks continue to focus on supporting the broader economy, providing significant financial relief through loan deferrals, interest waivers, and fee reductions to help small businesses and individuals navigate the current economic slowdown.