UAE Central Bank investigates Banque Misr following US sanctions on Iran-linked transactions

The UAE Central Bank has initiated an investigation into Banque Misr's local operations after the US Treasury restricted the bank's access to dollar transactions due to alleged dealings with Iran. This move marks a significant escalation in US enforcement of secondary sanctions against Iranian financial networks. It remains unclear if the bank will face permanent expulsion from the UAE financial system or if the investigation will lead to broader regulatory scrutiny of other regional institutions.