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Abu Dhabi Commercial Bank’s services hit by regional IT disruption
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Abu Dhabi Commercial Bank said its mobile banking and contact center services were temporarily unavailable on Monday due to an IT disruption across the region.
The bank did not give details of the IT fault or say whether it was related to disruptions reported at Amazon Web Services’ data centers in Bahrain and the United Arab Emirates following Iran’s strikes on US military bases in the region.
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ADCB, the UAE’s third-largest lender by assets, is majority owned by the Abu Dhabi government through sovereign wealth fund Mubadala Investment Company, which holds a 60.69 percent stake.
ADCB shares were not trading on Monday after the UAE Capital Markets Authority suspended activity on the Abu Dhabi Securities Exchange and Dubai Financial Market until Wednesday at the earliest following Iranian missile and drone strikes on the country.
Iran’s strikes on the US bases have triggered the most widespread business disruption in the region since the COVID pandemic, forcing airport closures, halting port operations and sending shockwaves through financial markets.
The attacks, launched in response to a joint US-Israeli assault on Iran, have landed across every major Gulf state, a region that has spent decades cultivating its reputation as one of the world’s most reliable business hubs.
Three people were killed in the UAE, with loud explosions heard for a third consecutive day in Dubai and Abu Dhabi on Monday.
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Khamenei killed – what happens next for Iran?
