UAE and Egypt central banks say Banque Misr UAE branches operating normally

The central banks of the UAE and Egypt issued a joint statement saying Banque Misr's branches in the Emirates are continuing operations as usual. The statement followed a U.S. regulatory notice related to Iran sanctions that Banque Misr is reviewing. The UAE also launched an urgent examination in response. Banque Misr clarified the scope of the U.S. regulatory action on its UAE branch.