Photo used for illustrative purpose.
The German bank will from Jan.3 operate Monday-Friday in the country, instead of the current Sunday-Thursday as is common around the Middle East, a source familiar with the matter told Reuters.
Wall Street-based JPMorgan is also adapting the same week in UAE, along with flexible practices such as a break for Muslim prayers on Fridays, the bank said in a statement.
France-based Societe Generale's spokesperson said it is implementing Saturday-Sunday weekend from Jan.2 in its Dubai and Abu Dhabi entities, according to an emailed statement.
Bloomberg News was the first to report on Sunday that JPMorgan, Deutsche Bank, Bank of America Corp and Societe Generale will switch to a Saturday-Sunday weekend in the UAE.
Representatives of Bank of America did not immediately respond to a Reuters request for comment.
The banks' move comes after the UAE said on Dec.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 are, however, free to choose their own working week in the UAE, which is the region's commercial, trade and tourism hub.
The digital banking platform's primary shareholders ADQ and Alpha Dhabi, one of the fast-growing investment holding companies in the Middle East, own 65%. Additionally, Etisalat holds 25%, and the First Abu Dhabi Bank holds 10%.
The UAE made the surprise announcement of the weekend switch for the public sector in December as it grapples with rising competition in international business from other countries.
“The Saturday-Sunday weekend sets a great balance in aligning with the UAE's banks and markets with world’s major economies, while the half Friday off helps increase social wellbeing and family ties.
Mercury Payments Services was acquired by Unitey Digital in January 2022 to democratize financial services for a large unaddressed market in UAE.
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