US Measures Against Banque Misr's UAE Branch Won't Affect Egypt

The Central Bank of Egypt has confirmed that recent US measures against Banque Misr's UAE branch will not impact the Egyptian banking sector or the bank's domestic operations. The measures, which are connected to economic restrictions on Iran, specifically target the UAE branch's transactions with correspondent banks in US dollars. This means that other institutions within the Egyptian banking sector, including Banque Misr in Egypt and its foreign branches, are unaffected.

The Central Bank of Egypt is working closely with the Ministry of Foreign Affairs to monitor the situation and address any repercussions. The regulator has emphasized the strength and resilience of all banks operating in Egypt, citing the soundness and solidity of the Egyptian banking sector.