Egypt’s Banque Misr Scrutinizes US Sanctions Over Iran Transactions

POLICY WIRE — Cairo, Egypt — Egypt’s Banque Misr announced on Saturday (Aug 29) that it is examining a US Treasury notice demanding the cessation of dollar transactions for its UAE branches due...

Editorial Desk

August 30, 2026 One Min Read

POLICY WIRE — Cairo, Egypt — Egypt’s Banque Misr announced on Saturday (Aug 29) that it is examining a US Treasury notice demanding the cessation of dollar transactions for its UAE branches due to their involvement with Iran. Simultaneously, the UAE central bank revealed it has initiated a thorough and immediate investigation into these branches in response to the US action.

The US Treasury’s imposition of Iran-related sanctions on the Egyptian bank is a component of Treasury Secretary Scott Bessent’s initiative to escalate economic pressure, aiming to resolve the six-month stalemate in Washington’s conflict with Iran.

Banque Misr assured that its UAE branch remains operational, continuing to offer banking services to clients in compliance with relevant regulations and procedures.

In a subsequent statement, the UAE central bank disclosed its decision to perform a “special and urgent examination” of Banque Misr’s branches within the country. This examination will include a detailed retrospective analysis of the period specified in the US authorities’ statement.

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The Central Bank of the UAE emphasized its expectation for banks operating within the UAE to safeguard the nation’s financial system from reputational hazards, adhere to the legal and regulatory frameworks of countries whose financial institutions are utilized for transactions, and refrain from misusing the UAE’s sophisticated financial infrastructure.

Reporting by Policy-Wire (PW)

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