Statement Regarding Branches Of Banque Misr Operating In UAE - UrduPoint
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Statement regarding branches of Banque Misr operating in UAE
By Fahad Shabbir (@FahadShabbir) | Published August 29, 2026 | 11:00 PM (UrduPoint / Pakistan Point News / WAM - 29th Aug, 2026)
ABU DHABI: The Central Bank of the UAE reviewed the issued statement by U.S. authorities regarding a proposal for special measures related to Banque Misr's UAE branches as a Financial Institution Operating Outside of the United States with primary money laundering concerns. The Central Bank wishes to emphasize the following:
- Regulatory Compliance: Branches of Banque Misr operating in the UAE are subject to the laws and regulations in force within the country.
- Reputational Risk: The Central Bank expects banks licensed in the UAE not to expose the UAE's financial system to reputational risks, to respect the laws and regulations of the countries whose financial institutions are used for transactions, and not to misuse the advanced financial infrastructure of the UAE.
- AML/CFT Procedures: The Central Bank periodically examines Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) procedures at banks operating in the UAE, verifies the effectiveness of sanctions screening and other systems, and requires banks to enhance these procedures and systems as per applicable laws and regulations.
- Special Examination: For Banque Misr's branches in the UAE, a special and urgent examination has been decided upon, encompassing a forensic/in-depth lookback covering the period mentioned in the U.S. authorities' statement, with a focus on banking transactions of the companies listed.
- Future Decisions: The Central Bank is currently evaluating available options regarding Banque Misr's status in the event that a special measure is imposed after completing procedures according to U.S. laws. The appropriate decision will be made at the due time, considering the bank's obligations towards its customers in the UAE.