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Egypt and UAE Central Banks Confirm Normal Operation of Bank of Egypt Branches in UAE
The Central Banks of Egypt and the Emirates confirm that the branches of Bank Misr in the UAE will continue to carry out all their operations normally, following the United States' announcement of its intention to impose sanctions related to Iran. This was stated in a joint statement explaining that the U.S. measures are limited to the branch’s transactions with dollar correspondent banks and do not affect other banks or Bank Misr's branches outside the UAE, while the strength and resilience of the Egyptian banking sector remain intact.
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