UAE to inspect Egyptian bank's branches after US sanctions

The UAE central bank said Saturday it would inspect Banque Misr's branches after the US hit it with sanctions for allegedly dealing with Iran

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

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

Under a new rule proposed Friday by the Treasury Department, the Emirati branches of Banque Misr, Egypt's second-largest bank, would be severed from access to the U.S. financial system.

The Trump administration is limiting an Egyptian bank's operations in the United Arab Emirates and accusing the financial institution of supporting Iran's leadership

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.

US hits Egyptian bank branches with Iran sanctions as war marks six months  Reuters

US targets Egyptian bank’s UAE branches under new push for Iran’s economic isolation  AP News

The Treasury Department said Banque Misr's UAE branches had processed over $1 billion for Iranian shadow banking networks.