Bank Misr branches in UAE inspected

The UAE Central Bank has taken a "special and urgent" measure against the branches of Bank Misr in the UAE, following a statement issued by American authorities regarding banking transactions linked to Bank Misr and U.S. actions targeting its relations with Iran. The measure included inspections and thorough reviews, with a focus on the dealings of the companies mentioned in the American statement, while reaffirming that Bank Misr’s branches are committed to adhering to UAE laws. The bank is currently examining final procedures after completing the legal steps needed to determine the bank’s status, taking into account the interests of clients and the bank's obligations within the country.

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