Personal finance experts are urging people in the UAE to “remain calm” with their money amid the continuing Iran war.
Local banking services were disrupted, two UAE Amazon data centres in the UAE were struck, and local stock markets were closed for two days, reopening at a dip.
“Against a backdrop of heightened geopolitical tensions, global market volatility and cautious investor sentiment, any upset in the financial system can understandably amplify anxiety,” said Sumeet Gill, vice president of investments at insurance brokerage Continental International Group.
“In the UAE, where digital banking penetration is high and day-to-day transactions are largely cashless, even short-term banking disruptions can feel more significant than they may be structurally.”
It’s important, however, to separate operational or technical disruptions from systemic financial risk, she added.
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