Banque Misr Says UAE Branches Are Operating Normally
Translated from English and summarized by DistantNews. Read the original for the full story.
At a glance
Press release
Official statement
Ongoing story
- Banque Misr said all of its UAE branches are operating normally.
- The bank is reviewing a US Treasury proposal for a regulatory rule that would impose a special measure concerning its UAE branches.
- Banque Misr said it is coordinating with the central banks of Egypt and the UAE and remains committed to protecting customers’ interests.
Banque Misr said its branches in the United Arab Emirates continue to operate normally, even as the bank follows a proposed regulatory measure from the US Treasury Department.
In a statement issued on Sunday, the Egyptian bank said the proposal would impose a special measure concerning its UAE branches. It said it was reviewing the proposal and coordinating with both the Central Bank of the UAE and the Central Bank of Egypt.
Banque Misr reaffirmed its commitment to maintaining its UAE operations and protecting the rights and interests of its customers. The bank also said it would continue cooperating fully with all relevant regulatory authorities.
About this summary
Originally published by Egypt Independent in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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