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UAE, Egyptian central banks say they are coordinating on Banque Misr after US Treasury notice
DUBAI: The United Arab Emirates and Egyptian central banks are coordinating with regard to Banque Misr, they said on Sunday, after the US Treasury said it was cutting off all the bank’s UAE branches from dollar transactions over its dealings with Iran. Banque Misr will take all necessary measures to conduct its business as usual, the central banks said in their joint statement.
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arabnews.com
US to set limits on Egyptian bank in effort to pressure Iran: official
WASHINGTON: The Treasury Department is due to cut off a major Egyptian bank’s operations in the United Arab Emirates from the US financial system, an official confirmed Friday, as…
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al-monitor.com
US Treasury targets Egyptian bank's UAE branches over Iran dealings
The Treasury Department said Banque Misr's UAE branches had processed over $1 billion for Iranian shadow banking networks.
