73 Days
Source:
الاقتصادية
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Source: الاقتصادية
73 Daysالاقتصادية
Source: الاقتصادية
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The Central Bank of the UAE has decided to conduct an urgent and in-depth investigation into the branches of Bank of Egypt operating within the country, following a proposal by the U.S. Treasury Department to prevent the bank's affiliated institutions from opening or holding correspondent banking accounts. This move is part of a series of measures aimed at exerting pressure on financial channels connected to Iran. The American actions relate to approximately $1.8 billion in transactions between January 2024 and June 2026, involving companies that may be linked to parallel Iranian banking networks. Meanwhile, the UAE bank is studying the available options to manage the situation of the Egyptian bank in accordance with U.S. laws, reaffirming that Bank of Egypt UAE remains committed to providing its services and respecting local and international regulations, with a focus on safeguarding the reputation of the UAE’s financial system.
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