Egypt Says U.S. Banque Misr Curbs Cover Only UAE Dollar Transfers

Egypt’s central bank said the proposed U.S. restrictions on Banque Misr cover only the lender’s five UAE branches and their dollar transfers through correspondent banks. It said the measure does not affect banks operating in Egypt, Banque Misr’s domestic business, or its branches elsewhere, and that Egyptian authorities are in contact with Washington. FinCEN’s proposal would bar U.S. institutions from maintaining correspondent accounts for Banque Misr UAE. The agency said 103 suspected Iranian shadow-banking fronts moved about $1.8 billion through those branches from January 2024 through June 2026.