The Central Bank of the United Arab Emirates (UAE) has launched a special and urgent investigation into the branches of "Banque Misr" operating in the country, following US accusations regarding ties with Iran.
Modern.az reports that, according to the UAE Central Bank's statement, the investigation will cover operations carried out during the period mentioned by the US authorities. In particular, a deep expertise of financial transactions conducted with companies named in the US statement is envisaged.
The US Treasury Department has identified Bank Misr's branches in the UAE as one of the key centers providing the Iranian government with access to US dollars. According to the US Department of Justice, from January 2024 to June 2026, these branches conducted transactions totaling approximately $1.8 billion for 103 companies that are part of Iran's shadow banking network.
