U.A.E. To Review Banque Misr, Targeted by Iran Sanctions

Banque Misr said it was treating the allegations with “utmost seriousness and attention” and planned to cooperate with the Treasury Department.

The bank adheres to “all applicable laws, regulations, instructions and supervisory controls,” it said in a statement. The suggested regulatory action would not affect Banque Misr branches in Egypt or other countries aside from the Emirates, the bank added.

The U.S. Treasury Department also imposed sanctions on the manager of an Emirati branch of Bank Melli, Iran’s largest lender, and a Hong Kong-based company that it said had helped launder funds for an Iranian exchange house that is under U.S. sanctions.

The Emirates, located just 50 miles from Iran across the Persian Gulf, has nurtured close economic and cultural ties with Iran for decades despite political tensions between the two countries.

Article source: https://www.nytimes.com/2026/08/30/world/middleeast/uae-banque-misr-treasury-iran.html