Deutsche Bank AG, JPMorgan Chase & Co and Societe Generale SA are changing to a Saturday-Sunday weekend from the New Year in the United Arab Emirates (UAE) which is aligning its working week with most global markets. The German bank will from Jan. 3 operate Monday-Friday in the Sunni Muslim-ruled country, instead of the current Sunday-Thursday as is common around the Middle East, a source familiar with the matter told Reuters.
Wall Street-based JPMorgan is also adapting the same week in UAE, along with flexible practices such as a break for Muslim prayers on Fridays, the bank said in a statement. France-based Societe Generale's spokesperson said it is implementing Saturday-Sunday weekend from Jan. 2 in its Dubai and Abu Dhabi entities, according to an emailed statement. Bloomberg News was the first to report on Sunday that JPMorgan, Deutsche Bank, Bank of America Corp and Societe Generale will switch to a Saturday-Sunday weekend in the UAE.