LONDON: The UAE central bank said on Saturday it would conduct an “urgent examination” of transactions by Banque Misr branches in the Emirates.
The statement came after the United States said it would cut off the UAE-based operations of the Egyptian bank from US financial institutions.
The US Treasury accused Banque Misr UAE of helping the Iranian regime access US dollars and evade sanctions.
The UAE central bank said it had “decided to conduct a special and urgent examination that includes a forensic/in-depth lookback covering the period referred to in the statement issued by the US authorities.”
The investigation would focus on “banking transactions of the companies mentioned in the statement,” the central bank said.
