The Central Bank of the UAE has ordered an urgent special inspection of Banque Misr’s UAE branches after US authorities proposed designating them as a foreign financial institution of primary money laundering concern. The in-depth review will cover the period identified by the US authorities and focus on transactions involving companies named in their statement. The branches remain subject to UAE laws and regulations. The central bank regularly examines banks’ anti-money laundering and counterterrorist financing controls, including electronic sanctions-screening systems, and requires improvements where needed. It is also assessing its options if the US special measure is finalized and will consider the bank’s obligations to UAE customers in determining its response.
2026-08-29Central Bank of the UAE
Central Bank of the UAE orders urgent inspection of Banque Misr branches following US money laundering proposal
The Central Bank of the UAE has ordered an urgent inspection of Banque Misr’s UAE branches following a proposed US special measure over primary money laundering concerns. The review will focus on the period and corporate transactions identified by US authorities, while the central bank assesses its options if the measure is finalized.