The Central Bank of Egypt (CBE) confirmed that the measures imposed by the United States in connection with Iran-related economic sanctions on Banque Misr’s branch in the United Arab Emirates are limited in scope to the branch’s U.S. dollar transactions with correspondent banks.
The CBE and the Egyptian Ministry of Foreign Affairs are in contact with U.S. authorities regarding the matter, according to the central bank.
The CBE stressed that the measures do not affect any other bank operating within Egypt’s banking sector, including Banque Misr’s operations in Egypt or any of the bank’s other overseas branches.
The central bank further affirmed the strength and resilience of all banks operating in Egypt, underscoring the soundness and stability of the Egyptian banking sector.
التعليقات