
Major Banks in Dubai
When travelling to a foreign city, it is always good to have some information about how money transactions can be made. For this you have to foray into the list of services offered to tourists by banks. In Dubai, like any other city, there are multinational and national banks. Banks are open 8:00 am to 3:00 pm from Saturday to Wednesday and 8:00 am to 12:00 pm Thursday. Most banks offer 24-hour access to automated teller machines (ATMs). Fridays and Saturdays are holidays for most establishments in the city.
If you are a credit card holder,t hen these are the ones which would be helpful during your visit; Mastercard, Visa, Diners Club and American Express. However, most small establishments may not have a card swiping machine. Therefore, it is wise to carry some cash with you. The official currency in Dubai is the United Arab Emirates Dirham (AED). One AED equals 12.20 INR. You can get foreign currency exchanged from major banks and private financial institutions/outlets like MMA Forex, UCS etc. Most of the hotels also do currency exchange like Flora Grand Hotel, Deira and Palm Beach hotel, Jumeirah.
Some of the multinational banks in Dubai are as follows:
- Citi Bank
- Barclays Bank
- ABN-Amro
- HSBC
- Standard Charted Bank
- Lloyds TSB
Some prominent local banks are:
- National Bank of Dubai
- Dubai Islamic Bank
- Emirates Bank
- Mashreq Bank
Tourists with a Visit Visa cannot open a bank account. Only a person with a resident visa is allowed to open a bank account in Dubai. In case, you are working in Dubai, your company will be able to arrange a bank account for you. Two important documents are necessary for opening a bank account in Dubai: the passport with the resident visa stamp and a letter of employment stating your salary from a company in Dubai. Tourists are easy targets for thieves, keep an eye on your wallet or purse when in crowded areas like Naser Square or Deira. If you are withdrawing large amounts of cash from ATM’s or banking institutions, either conceal the notes or ask the institution’s security to escort you to your vehicle. There have been repeated reports of theft in such a manner.







