UAE Central Bank Launches Urgent Probe of Banque Misr After US Sanctions Claim

The United Arab Emirates’ central bank disclosed that it will carry out a rapid, in-depth forensic audit of Banque Misr’s activities in the Emirates after the US Treasury announced sanctions that would isolate the Egyptian bank from the US financial system. The US statement, issued on Aug 28, described the UAE branch as a “critical node” for the Iranian regime’s dollar access, estimating it moved about US$1.8 billion between Jan 2024 and Jun 2026 for 103 companies possibly linked to Iranian shadow banking networks.

In response, the UAE regulator said its investigation will focus on the period highlighted by US authorities and scrutinise the transactions of the listed firms. Banque Misr issued a statement affirming respect for the process, promising full cooperation, and confirming it will continue providing services. The central bank emphasized that licensed banks must not expose the UAE’s financial system to reputational risk and is considering the bank’s future status should the US sanctions be enforced, while also taking customer obligations into account.