'Banque Misr to continue business as usual': UAE, Egypt central banks issue joint statement after US action
The UAE and Egypt's central banks affirmed that Banque Misr will maintain operations despite US restrictions on its UAE branches, accused of facilitating financial activities linked to Iran. The US Treasury estimates that between January 2024 and June 2026, the bank processed $1.8 billion for companies tied to Iranian networks. The final US measure will be decided after a public comment period.