Arab Finance: The Central Bank of Egypt (CBE) and the Central Bank of the UAE (CBUAE) have reaffirmed their full coordination regarding the operations of Banque Misr’s branches in the UAE, according to a joint statement.

Accordingly, Banque Misr branches in the UAE are continuing to operate as usual and will take all necessary actions and measures within the timeframe specified by the relevant authorities.

This comes as part of ongoing follow-up on the proposal issued by the US Department of the Treasury concerning a regulatory rule that would impose a special measure relating to Banque Misr UAE.

Banque Misr said it remains fully supportive of its UAE branches and is committed to protecting the rights and interests of its customers, reaffirming its commitment to maintaining full cooperation with all relevant regulatory authorities.