Banque Misr Reviews US Notice Amid Restrictive Measures Against Iranian Dealings

Banque Misr, an Egyptian bank, is reviewing a notice from the US Treasury regarding restrictions on US dollar correspondent banking services provided by US financial institutions to its branch in the United Arab Emirates.

The US Treasury announced on Friday that it had moved to cut off Banque Misr's branches in the UAE from dollar transactions due to its dealings with Iran.

Banque Misr stated that its branch in the UAE continues to provide banking services to its customers according to applicable rules and procedures.