CBE: U.S. Measures on Banque Misr UAE Limited to USD Transactions, Egyptian Banking Sector Unaffected

The Central Bank of Egypt (CBE) and the Ministry of Foreign Affairs announced that they are in direct contact with U.S. authorities regarding the recently circulated measures concerning Banque Misr’s UAE branch under U.S. Iran-related economic restrictions.

The CBE affirmed that these measures are strictly limited to the UAE branch’s U.S. dollar transactions with correspondent banks, emphasizing that the impact does not extend to any other bank within the Egyptian banking sector, including Banque Misr’s operations inside Egypt or its other international branches.

Furthermore, the CBE underscored the robust strength and resilience of all financial institutions operating within the Egyptian banking market.