UAE to Investigate Banque Misr Branch After US Treasury Labels It a Critical Node for Iranian Dollar Access

The United Arab Emirates announced it will probe a branch of Egypt’s Banque Misr following a statement from the U. S. Treasury Department. The Treasury identified the bank as a critical node that enables the Iranian regime to obtain U. S. dollars. The UAE’s investigation is expected to examine the branch’s transactions and connections to Iranian entities. The probe comes amid growing U. S. pressure on financial institutions that facilitate Iran’s access to the global dollar system. The outcome may lead to further regulatory action or sanctions against the bank’s operations in the UAE.