
US restrictions on Bank Misr UAE unit do not affect Egyptian banks, says CBE
The Central Bank of Egypt CBE announced that US measures against Bank Misr's UAE branch, related to alleged Iran-linked transactions, do not impact Bank Misr in Egypt or any other Egyptian banks. The CBE, along with Egypt's Ministry of Foreign Affairs, is engaging with US authorities regarding these measures, which are part of Washington's efforts to tighten economic and financial restrictions on Iran. The US Treasury Department accused the UAE unit of processing approximately $1.8 billion in transactions for companies allegedly connected to Iranian shadow banking networks between January 2024 and June 2026. These measures restrict the branch's access to US financial services, including correspondent banking services, under the Trump administration’s “Operation Economic Outcast” campaign. The CBE affirmed the strength and resilience of Egypt’s banking sector.



