Egypt's Banque Misr reviews US Iran sanctions notice, UAE central bank launches urgent examination

CAIRO: Egypt's Banque Misr said on Saturday (Aug 29) it was reviewing a US Treasury notice to cut off its UAE branches from dollar transactions over their dealings with Iran, while the UAE central bank said it had launched an urgent examination of the branches following the US action.The US imposition of Iran-related s

UAE central bank to inspect Banque Misr branches after US sanctions The UAE central bank said Saturday it will inspect Banque Misr’s local branches, after Washington said it would cut off the institution’s operations in the Gulf state from the US financial system as it tries to choke Iran off economically. “For B

Egypt's Banque Misr reviews US Iran sanctions notice, UAE central bank launches urgent examination  Reuters

The US Treasury Department is due to cut off a major Egyptian bank's operations in the United Arab Emirates from the US financial system, an official said Friday, as Washington pushes to choke Iran off economically.

The Central Bank of Egypt (CBE) warned bank customers and users against sharing their One-Time Password (OTP) with anyone, explaining that disclosing this code could expose them to risks related to their transactions and bank account. The CBE published an awareness warning on its official Facebook page, urging users to

With reference to the announcement by the U.S. Department of the Treasury regarding the taking of a regulatory action related to restricting U.S. dollar correspondent banking services provided by U.S. financial institutions to Banque Misr’s branch in the United Arab Emirates, Banque Misr affirms its full respect for th

Banque Misr says it is reviewing US Iran sanctions notice  Dawn

Treasury Secretary Scott Bessent announced Friday that he is working to cut off bank branches in the UAE from the U.S. financial system.

Banque Misr UAE processed about $1.8 billion over two years for some 100 companies that are potentially part of Iran's shadow banking network, Treasury said.

By Daphne Psaledakis and David Lawder WASHINGTON, Aug 28 (Reuters) - The U.S. imposed Iran-related sanctions on an Egyptian bank on Friday, part of Treasury Secretary Scott Bessent's campaign to increase economic pressure to try to break a stalemate six months into Washington's war with Iran.