UAE, Egypt central banks say Banque Misr's branches conducting ‘business as usual’
AI EXECUTIVE SUMMARY
The central banks of the United Arab Emirates and Egypt released a joint statement declaring that Banque Misr's branches in the UAE are operating normally. This announcement follows a recent proposal from the US Department of the Treasury that introduced a special regulatory measure targeting the Egyptian bank's operations.
The Central Bank of the UAE and the Central Bank of Egypt have issued a joint statement on Sunday evening, affirming close cooperation between the two regulators over the operations of Banque Misr’s branches in the UAE, following a proposed rule by the US Department of the Treasury targeting the lender.The statement comes as a follow-up to the proposal issued by the US Treasury regarding a regulatory rule providing for the imposition of a special measure relating to Banque Misr's branches in the...
This story was originally reported by Khaleej Times. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.