Iran takes a tough stance after the bank attack, warns Muslim countries; Citibank closes several branches in Dubai

New Delhi. Following the bomb attack on a branch of Iran’s oldest bank, the country’s government appears to be taking a tough stand. Iran’s Foreign Minister Seyyed Abbas Araghchi on Thursday strongly condemned the attack and warned that a response would be met. The incident has raised concerns among foreign banks and financial institutions operating in the Gulf region.

Iran’s foreign minister accused the US and Israeli forces of targeting the country’s banking infrastructure, saying the attacks were aimed at Iran’s national infrastructure.

Araghchi lamented that the branch of the country’s oldest bank was targeted while employees were present. They were assisting people with banking services ahead of the Iranian New Year. He strongly stated that Iran’s armed forces would respond to this “crime.” This statement has created an atmosphere of fear among foreign banks operating in the Gulf region.

The incident comes after an alleged Israeli-American attack on a building or data center belonging to Bank Sepah in Tehran. Reports suggest several employees may have been killed in the attack. Iranian media reported that the attack occurred at night while the bank was processing salaries for military personnel.

Iran’s national infrastructure is under attack. This time, a branch of my country’s oldest bank was bombed while full of employees. They were laboring to ensure Iranians have food on the table ahead of our New Year.

Our Powerful Armed Forces will exact retribution for this crime

— Seyed Abbas Araghchi (@araghchi) March 11, 2026

Warning from the Joint Military Command:
On the other hand, Iran’s Joint Military Command Khatam al-Anbiya Headquarters issued a statement on Wednesday saying that now banks and financial institutions in the West Asia region will also be their targets. The command warned Muslim countries that many banks and financial institutions present in the region have been identified. If necessary, they will be targeted. Also, people were appealed not to stay within a radius of one kilometer from banks.

Citibank has decided to close several of its branches in the United Arab Emirates due to the growing threat to Dubai
. The bank said the move was due to the evolving situation in the region, but did not provide further details.

Iran’s warning has particularly threatened the economic interests of Dubai, Saudi Arabia, and Bahrain. Dubai is home to many of the world’s largest banks and financial institutions, so security has been tightened there. Sources say other financial institutions have also advised their employees to work from home for the time being. Experts believe that if financial institutions also become involved in the conflict, it could have a profound impact on the global banking system.