Bank Misr branches in UAE comply with laws
The Central Bank of the United Arab Emirates confirmed that the branches of Bank Misr operating in the UAE are subject to the laws and regulations in force in the United Arab Emirates, in response to the US authorities’ statement regarding concerns about money laundering related to these branches. The Central Bank indicated that regular inspections are carried out on anti-money laundering and counter-terrorism financing procedures, and a special and urgent inspection focusing on the transactions of the companies mentioned in the US statement will now be conducted. The Central Bank is also examining available options in the event of any US measures against the bank, while prioritizing the protection of its clients’ interests in the UAE.
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