Business as Usual in Dubai, but Fluid Situation

In the initial weeks since the war against Iran began 28 February, trade finance operations in banks in Dubai have thus far largely been conducted as business as usual but with bank personnel working off-site as they did during the covid pandemic.

Speaking with DCW about considerations influencing the letter of credit business, one trade specialist working in the region commented on what he has observed in recent weeks and what could be coming in the weeks ahead.