Banking and Finance in Abu Dhabi

You can expect the usual commercial banking services from the local and international banks that are represented in Abu Dhabi as you would in most places of the world. Transfers can be made without difficulty as there is no exchange control and the dirham is freely convertible, though the rate is fixed to the US$ at AED 3.67.

Banking opening hours are from 8.00am to 3.00pm, from Saturday to Thursday, but closing 1pm on Thursdays. Some banks also open from 4.30-7.30pm. Banks are closed on Fridays.

There are many international banks to choose from including HSBC, Standard Chartered and amongst the local banks -ADCB and NBAD.

If you are visiting or living in Abu Dhabi during the month of Ramadan, it is wise to call up the bank to confirm their operating hours. Some banks open one hour later during Ramadan compared to their normal opening hours, while a few others operate shorter hours at daytime and re-open in the evenings after the iftar.

Some people need to send bank transfers back to their home of origin and choose to use an Exchange House rather than a bank. It is also an easy way to get foreign exchange when travelling. There are several exchange houses dotted around the city. Ansari on Hamdan St. near the souk area is a well-known one. They also have branches in some Co-Operative supermarkets and there is one located in Abela. Exchange houses are open from 8.30am-1.00pm and 4.30-8.30pm.