Treasury plans to cut Banque Misr UAE access as Washington pressure mounts over Iran. Banque Misr, founded in 1920, operates across Egypt with international branches and services for foreign workers.
The Treasury Department has proposed a rule to sever the Emirati branches of Banque Misr from the U.S. financial system. The move accompanies sanctions steps against Iran-related entities and signals a push to isolate Tehran’s network without sanctioning key trading partners. The measure awaits a 30-day public comment period.