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U.S. Moves to Limit Banque Misr Actions in UAE
The Central Bank of Egypt has confirmed that the American measures concerning the Bank of Egypt’s branch in the UAE are limited to the branch’s transactions with dollar-based correspondent banks and do not affect other Egyptian banks or their foreign branches. This comes after the U.S. Treasury Department claimed that the bank’s transactions between January 2024 and June 2026, totaling $1.8 billion, involved companies suspected of being linked to Iranian networks. Egyptian and international sources clarified that the decision remains a proposed measure for 30 days before final approval, while confirming the strength of the Egyptian banking sector.
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