With reference to the news circulating regarding the U.S.-imposed economic sanctions related to Iran and their impact on Banque Misr’s UAE branch, the Central Bank of Egypt (CBE) and the Ministry of Foreign Affairs are currently in contact with the U.S. authorities regarding the matter.

The CBE confirms that the measure is strictly limited to Banque Misr UAE’s USD transactions with correspondent banks. It does not extend to any other bank operating within the Egyptian banking sector, nor does it affect Banque Misr’s operations in Egypt or any of its other overseas branches.

The CBE also reaffirms the overall strength, stability, and resilience of all banks operating within the Egyptian banking sector.