Egypt, UAE central banks affirm coordination on Banque Misr branches

The Central Bank of Egypt (CBE) and the Central Bank of the United Arab Emirates (CBUAE) affirmed on Sunday their full and continuous cooperation and coordination regarding Banque Misr’s branches in the UAE.

The two central banks confirmed that Banque Misr’s UAE branches are continuing to conduct their business as usual and will take all necessary actions and measures within the specified period.

The statement follows a proposal by the US Department of the Treasury for a regulatory rule imposing a special measure on the branches.