The United Arab Emirates and Egyptian central banks are coordinating with regard to Banque Misr, they said on Sunday. This follows a US Treasury notice that it is cutting off all the bank’s UAE branches from dollar transactions over its dealings with Iran. Banque Misr will take all necessary measures to conduct its business as usual, the central banks said in their joint statement.
The US government’s proposed punishment is expected to come into effect in less than 30 days after a public comment period. Only UAE branches of Egypt’s second-largest bank would be unable to carry out transactions in dollars. Banque Misr said on Saturday it was reviewing the US Treasury notice.
Reference
Reuters, “UAE, Egyptian central banks say they are coordinating on Banque Misr after US Treasury notice,” published August 30, 2026. https://www.reuters.com/world/middle-east/uae-egyptian-central-banks-say-they-are-coordinating-banque-misr-after-us-2026-08-30/