Japan’s biggest banks are among the first global firms to evacuate employees from Dubai and other financial hubs in the Middle East, just days after US airstrikes on Iran increased risks in the region.Mitsubishi UFJ Financial Group Inc. has started to pull staff out of locations including Dubai, and halted unnecessary travel in and out of the region, a spokesperson said Monday.
After the US on Saturday launched attacks on nuclear facilities in Iran, Japanese companies are rushing to protect their employees and brace local operations for the fallout from any potential retaliation by the Islamic Republic.
Mizuho Financial Group Inc. said it urged employees in the region to exercise caution, and has started to coordinate individual evacuations. Sumitomo Mitsui Financial Group Inc. is looking to bring its staff from locations including Qatar and the United Arab Emirates back to Japan.In the UAE, the twin hubs of Dubai and Abu Dhabi have lured banks and hedge funds as traders embrace zero income taxes, a time zone conducive to working with both East and West and a lifestyle tailor-made for the rich. Saudi Arabia and Qatar, meanwhile, have also been attracting financial firms in an attempt to diversify away from oil.
After the US on Saturday launched attacks on nuclear facilities in Iran, Japanese companies are rushing to protect their employees and brace local operations for the fallout from any potential retaliation by the Islamic Republic.
Mizuho Financial Group Inc. said it urged employees in the region to exercise caution, and has started to coordinate individual evacuations. Sumitomo Mitsui Financial Group Inc. is looking to bring its staff from locations including Qatar and the United Arab Emirates back to Japan.In the UAE, the twin hubs of Dubai and Abu Dhabi have lured banks and hedge funds as traders embrace zero income taxes, a time zone conducive to working with both East and West and a lifestyle tailor-made for the rich. Saudi Arabia and Qatar, meanwhile, have also been attracting financial firms in an attempt to diversify away from oil.
MS&AD Insurance Group Holdings Inc. also said it’s looking to temporarily recall employees in both UAE cities back to Japan.
Japan Airlines Co. plans to reroute direct flights between Tokyo’s Haneda Airport and Doha Airport to avoid airspace above the Persian Gulf and the Gulf of Oman, which adds about 20 minutes of flight time, a spokesperson said Monday.
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First Published: Jun 23, 2025 1:39 PM IS
