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Chinese banks with established branches throughout the Middle East have yet to release any details regarding how the ongoing regional conflict might be affecting their operations.
Following the strikes on Iranian banking facilities by the United States and Israel on March 10, the Iranian military announced yesterday that it intends to carry out retaliatory actions against U.S. and Israeli economic targets in the area. They also cautioned the public to avoid potential targets, such as financial institutions.
Over the past two decades, major Chinese state-owned banks—including the Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, and Industrial and Commercial Bank of China—have set up branches in the Middle East, primarily located in Abu Dhabi and Dubai.
These Middle Eastern branches engage in various activities like deposit-taking, lending, trade finance, and settlement services.
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