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FINANCIAL NEWS
UAE’s top Citibank applies new controversial policy
12 Nov 2015
(MENAFN) An Emeriti top financial institute stated that it can no longer keep servicing new customers who can’t preserve a minimum balance of USD9K in their accounts, as reports shows.
Citibank, which has been in the Middle East for nearly 50 years, has told its customers in the nation that they are required to keep the minimum balance to prevent accounts elimination.
The bank rejected to elaborate on the reason except to say that it “falls in line” with their business ideal, although this seems as a way to step towards becoming a premium-focused financial institution.
“A reason for Citi to raise minimum balance requirement could be that they want to focus on premium banking customers only,” stated the founder of MoneyCamel.com.
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