Citibank United Arab Emirates
Citigroup's United Arab Emirates banking franchise, serving retail, corporate, institutional, and investment-banking clients.
Last updated August 22, 2026
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Overview
Citibank United Arab Emirates, commonly known as Citibank U.A.E., is the United Arab Emirates franchise of Citibank, N.A., within Citigroup's global financial-services network. It is a locally operating banking business connected to Citi's international platform, which enables it to provide products and services that extend beyond the UAE while maintaining a domestic branch and client-service presence. The franchise began operations in 1964, when Citi opened its first UAE branch in Dubai. It expanded to Abu Dhabi in 1971, and its full-service branch network later covered three of the country's seven emirates: Abu Dhabi, Dubai, and Sharjah. Retail-banking telephone support has been based at Citibank Bahrain, indicating that some customer-service functions are organized regionally rather than solely within the UAE. Citibank U.A.E. serves both consumers and institutions. Its offering includes consumer banking and credit products, current accounts, debit and credit cards, foreign-exchange services, commercial banking, corporate and investment banking, institutional equity research and sales, and electronic brokerage. This combination gives the franchise a dual profile: it operates as a retail bank for eligible individual customers while also functioning as a corporate, capital-markets, and institutional-services provider. The UAE business has maintained a presence in the country's financial free zones. Its Dubai capital-markets and investment-banking operations are based in the Dubai International Financial Centre and include entities licensed under Citigroup Global Markets Ltd. and Citibank, N.A. (DIFC Branch). Those operations began in 2006. Citi also established operations in Abu Dhabi Global Market, where its Abu Dhabi activities began in 2018 under Citibank, N.A. licensing arrangements. Retail access has included account eligibility requirements. Since 2015, new retail customers seeking a basic current or checking account with a debit card have been required to maintain a minimum balance of AED 35,000 or its equivalent in a supported multi-currency balance, according to the cited reference material. The franchise has also offered a Dubai International Financial Centre-domiciled electronic brokerage service for self-directed investors, with transaction and custody charges described in the reference material. Citibank U.A.E. has participated in the transition from proprietary to third-party digital-wallet ecosystems. Its own Citi Pay wallet was discontinued on 30 June 2019. Apple Pay support for Mastercard credit cards was introduced on 15 September 2020, and Google Pay support for Citi Mastercard credit cards was enabled on 1 April 2023. Samsung Pay was not supported according to the referenced account. In addition to customer-facing banking, the UAE franchise has been used as an offshore booking centre for loans and other products. Overall, the business combines local branches and UAE financial-centre operations with Citi's multinational infrastructure, positioning it as a provider for internationally connected retail, corporate, institutional, and investment-banking clients.
History
Citibank United Arab Emirates is the UAE franchise of Citibank, N.A., a Citigroup banking entity. Citi established its UAE presence in 1964 by opening its first branch in Dubai. This made the franchise an early participant in the country's modern banking sector. A second branch opened in Abu Dhabi in 1971, extending the business beyond Dubai and providing a presence in the UAE's federal capital. The franchise subsequently developed a branch footprint in three emirates: Abu Dhabi, Dubai, and Sharjah. Although the wider Citi organization operates internationally, Citibank U.A.E.'s full-service physical branch network has been concentrated in those locations rather than covering all seven emirates. Retail telephone support has been organized regionally through a call centre based in Bahrain. Over time, the UAE business expanded beyond conventional branch banking. Its services came to include consumer banking and credit, debit and credit cards, corporate and commercial banking, foreign exchange, institutional equity research and sales, and investment banking. The business also became a channel for Citi's internationally oriented corporate and institutional relationships, including lending and other products booked through the UAE as an offshore centre. Citi strengthened its presence in the UAE's specialist financial jurisdictions during the 2000s and 2010s. Dubai International Financial Centre operations for capital markets and investment banking began in 2006. These activities were conducted through entities including Citigroup Global Markets Ltd. and the Citibank, N.A. DIFC Branch under the relevant DIFC licensing framework. In Abu Dhabi, Citi established operations in Abu Dhabi Global Market in 2018 under Citibank, N.A. licensing arrangements. The two financial centres complemented the franchise's conventional branches by providing platforms for wholesale banking, capital markets, and investment activity. Retail banking policies also evolved. From 2015, new retail customers seeking a basic current or checking account with a debit card were required, according to the cited reference, to maintain AED 35,000 or an equivalent minimum balance in supported currencies. The UAE franchise also offered a DIFC-domiciled electronic brokerage service for self-directed investors. The referenced terms describe a 1% charge per transaction based on the traded amount and annual custody fees of 0.2% of the average assets under custody, charged quarterly. The franchise's digital-payment history reflects the broader shift from bank-specific wallets toward major mobile-wallet platforms. Citi Pay, its own wallet for debit and credit cards, was discontinued on 30 June 2019. Apple Pay support for Mastercard credit cards followed on 15 September 2020, and Google Pay support for Citi Mastercard credit cards became available on 1 April 2023. Samsung Pay was not supported according to the referenced material. Today, Citibank U.A.E. is best understood as a multi-segment banking franchise rather than only a consumer branch network. It combines UAE retail distribution with corporate, institutional, investment-banking, capital-markets, foreign-exchange, brokerage, and internationally booked financial services, supported by Citigroup's wider global network.
- 2023
Google Pay support enabled
[1]Google Pay support is enabled for Citi Mastercard credit cards on 1 April.
- 2020
Apple Pay support rolled out
[1]Apple Pay support becomes available for Citi Mastercard credit cards on 15 September.
- 2019
Citi Pay discontinued
[1]Citibank U.A.E. discontinues its proprietary Citi Pay digital wallet on 30 June.
- 2018
ADGM operations begin
[1]Citibank, N.A. begins operations in Abu Dhabi Global Market.
- 2015
Minimum-balance requirement introduced for new basic retail accounts
[1]New retail customers seeking a basic current or checking account with a debit card are required to maintain AED 35,000 or an equivalent multi-currency balance, according to the cited reference.
- 2006
DIFC capital-markets operations begin
[1]Citibank U.A.E.'s Dubai capital-markets and investment-banking operations begin in the Dubai International Financial Centre.
- 1971
Abu Dhabi branch opens
[1]The franchise opens a second UAE branch in Abu Dhabi.
- 1964
First UAE branch opens in Dubai
[1]Citibank establishes its first branch in the United Arab Emirates in Dubai.
Products and positioning
An internationally connected UAE banking franchise combining consumer banking with corporate, institutional, capital-markets, and investment-banking services.
Retail banking
Consumer banking and credit
The UAE franchise provides consumer-facing banking and credit services through its local branch network and related channels. The referenced material identifies current or checking accounts, debit cards, credit cards, and other consumer-credit products as part of the retail offering. New customers seeking a basic current account with a debit card have been subject to a stated minimum-balance requirement since 2015.
Wholesale banking
Corporate and commercial banking
Citibank U.A.E. serves companies and institutions through corporate and commercial banking services. These activities are supported by Citi's international network and include financial products for organizations operating across borders. The UAE business also functions as an offshore booking centre for loans and other products.
Investment banking · 2006
Investment banking and capital markets
The franchise offers investment-banking and capital-markets capabilities through operations in the Dubai International Financial Centre and Abu Dhabi Global Market. Dubai activities began in 2006, while Abu Dhabi Global Market operations began in 2018. The broader offering includes institutional equity research and sales alongside other wholesale-market services.
Brokerage
DIFC E-Brokerage
Citibank U.A.E. has offered a Dubai International Financial Centre-domiciled electronic brokerage service for self-directed investors. The service is designed for do-it-yourself trading and, according to the cited reference, charges a transaction fee based on traded value together with an annual custody fee calculated on average assets held in custody.
Markets services
Foreign exchange
Foreign-exchange services form part of Citibank U.A.E.'s consumer, corporate, and institutional product set. They support the needs of customers and organizations dealing with multiple currencies and are consistent with the franchise's role in Citi's cross-border financial network.
Brand decisions
2023
Google Pay support for Mastercard credit cardsProduct launchBackground
Citibank U.A.E. continued expanding support for external mobile-wallet platforms.
Action taken
Google Pay was enabled for Citi Mastercard credit cards on 1 April 2023.
Aftermath
Eligible customers gained an additional mobile-payment option; Samsung Pay remained unsupported according to the cited reference.
2020
Apple Pay support for Mastercard credit cardsProduct launchBackground
Following the discontinuation of Citi Pay, the UAE franchise supported selected external digital-wallet services.
Action taken
Apple Pay support was rolled out for Citi Mastercard credit cards on 15 September 2020.
Aftermath
Eligible cardholders could use Apple Pay rather than the discontinued proprietary wallet.
2019
Discontinuation of Citi PayOtherBackground
Citibank U.A.E. had supported its debit and credit cards through a proprietary Citi Pay digital wallet.
Action taken
The bank discontinued Citi Pay on 30 June 2019.
Aftermath
The franchise later supported selected third-party mobile-wallet platforms, including Apple Pay and Google Pay for eligible Mastercard credit cards.
Recent events
- 2023
Google Pay enabled for Citi Mastercard credit cards[1]
Product launch
Google Pay support for Citibank U.A.E. Mastercard credit cards was enabled on 1 April 2023.
- 2020
Apple Pay support introduced for Citi Mastercard credit cards[1]
Product launch
Apple Pay support for Citibank U.A.E. Mastercard credit cards was rolled out on 15 September 2020.
- 2019
Citi Pay digital wallet discontinued in the UAE[1]
Other
Citibank U.A.E.'s proprietary Citi Pay digital wallet was discontinued on 30 June 2019.
Sources1 sources
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