UAE Central Bank on Bank Misr branches
The article discusses the decision by the Central Bank of the United Arab Emirates concerning the branches of Bank Misr operating in the UAE, following a statement from American authorities regarding a specific measure related to money laundering risks. The central bank confirmed that Bank Misr’s branches are subject to UAE laws and that it regularly inspects their anti-money laundering and counter-terrorism financing procedures, including conducting dedicated reviews and in-depth examinations of the affected branches. The bank is also exploring the options available should the specific measure be implemented against the bank in accordance with U.S. laws, while taking into account the bank’s obligations to its clients in the UAE.
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