The central banks of the UAE and Egypt have issued a joint statement to reassure the public that Banque Misr’s local branches remain fully operational and are conducting business as usual. This announcement comes in the wake of a recent proposal from the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), which suggested revoking the bank’s access to US correspondent banking services. The US move alleges that the lender's UAE operations have been used as a conduit for Iran to access foreign currency, a claim that is part of a broader American campaign to pressure Tehran.

In response to these developments, the UAE Central Bank has launched an urgent, forensic review of the bank’s transactions to ensure compliance with international standards and to protect the integrity of the nation's financial system. While the regulators work closely to navigate the US proposal, they have emphasized that all necessary actions are being taken to meet the requirements set forth by authorities. The UAE regulator noted that it is currently evaluating its options to ensure that, regardless of the eventual US decision, the bank’s obligations to its customers in Dubai, Abu Dhabi, Sharjah, and Ras Al Khaimah remain fulfilled.