US sanctions on UAE branch of Banque Misr have no impact in Egypt

"+e[p]);return}}g(k,c)}):d(9,f)},requireModules:g,requireOne:m,define:function(a,b){var c=D();if(!0!==l)null===c?w(49,""):w(49,D().getAttribute("src"));else{if(null!==c&&(c=c.getAttribute("src"),c in e)){e[c].setDefine(a,b);return}c=s.getActialLoading();u(c)?c in e?e[c].setDefine(a,b):d(46,c):q.push({deps:a,define:b})}}}}(),s=null,z=[],I=(new Date).getTime();t(window,"require",r,!1,27);t(window,"define",F,!1,28);t(r,"runnerBox",function(a){function b(a){x in a||(a[x]=m()); return a[x]}function g(){function a(){if(!0===b)for(;0 10s");g()},1E4)});"complete"===document.readyState&&(v(48,"isComplete"),g());"loaded"===document.readyState&&(v(48,"isLoaded"),k());l(document,"DOMContentLoaded",function(){v(48,"DOMContentLoaded");k();l(document.getElementsByTagName("body")[0],"pageshow",function(){v(48,"body pageshow");g()})});l(document,"readystatechange",function(){var a= "readystatechange - "+document.readyState;"complete"===document.readyState||"loaded"===document.readyState?(v(48,a+" - exec"),k()):v(48,a+" - noexec")})}function h(a){function b(a){var c=/^[\s\uFEFF\xA0]+|[\s\uFEFF\xA0]+$/g;return"function"===typeof a.trim?a.trim():null===a?"":(a+"").replace(c,"")}var c=a.getAttribute("data-static-amd-map");if("string"===typeof c){if(""===c)return{}}else return null;if("undefined"!==typeof JSON&&"function"===typeof JSON.parse)return JSON.parse(c);a=/(,)|(\[|{)|(}|])|"(?:[^"\\\r\n]|\\["\\\/bfnrt]|\\u[\da-fA-F]{4})*"\s*:?|true|false|null|-?(?!0\d)\d+(?:\.\d+|)(?:[eE][+-]?\d+|)/g; var d,e=null;return(c=b(c+""))&&!b(c.replace(a,function(a,b,c,f){d&&b&&(e=0);if(0===e)return a;d=c||b;e+=!f-!c;return""}))?Function("return "+c)():null}function l(a,b,c){a.addEventListener?a.addEventListener(b,c,!1):a.attachEvent("on"+b,c)}var e=D();if(null===e||!0!==d(e))for(var e=document.getElementsByTagName("script"),q=0;q const schemaOrgItemList = { "@type": "ItemList", "itemListElement": [] }; .image-wrapper{position:relative;display:inline-flex}.image-wrapper::after,.image-wrapper::before{background-image:var(--noscript-src);content:'';position:absolute;left:0;top:0;bottom:0;right:0;background-size:cover;background-repeat:no-repeat;background-position:center} window.dataLayer = window.dataLayer || []; window.dataLayer.push({ content_id: "56xblvh", content_type: "article", author: "Awogbemila Temitope", content_accessibility: "free", content_category: "local", content_category2: "markets", lifetime: "time limited", publication_reason: "editorial", publication_date: "2026.08.29", source_type: "original", page_brand: "Business Insider Africa", page_country_code: "BI", page_language: "en", ai_written: "false", title: "U.S. restricts UAE bank branch over Iran links as Africa’s 2nd-largest economy says its banks are unaffected", wordCount: "366", pubdateTime: "2026-08-29T06:00:00", }); window.onappinstalled = function () { window.dataLayer.push({ event: "add-to-homescreen" }); }; window.addEventListener('message', message => { if (message.data.radpGA4Event) { window.dataLayer.push(message.data.radpGA4Event); } }); window.addEventListener("load", () => { document.querySelectorAll(".ring-detail-social-share").forEach((socialShareWidget) => { socialShareWidget.addEventListener('click', (event) => { if (event.target.tagName === 'A') { window.dataLayer.push({ event: "share", method: event.target.getAttribute("title").toLowerCase(), link_url: window.location.href }) } }) }) }) var pulse2EmbedConfig = { "pulsevideo": { "player": "flowplayer", "params": { "autoplayNext": true, "enableAds": false }, "plugins": [ { "script": "https://imasdk.googleapis.com/js/sdkloader/ima3.js" }, { "script": "https://embed.videos.ringpublishing.com/flowplayer/plugins/ads.min.js", "config": { "ima": { "ads": [ { "adTag": "https://pubads.g.doubleclick.net/gampad/live/ads?iu=/53159133/Pulsegh_video_new_640x360&description_url=[placeholder]&tfcd=0&npa=0&sz=640x360&gdfp_req=1&output=vast&unviewed_position_start=1&env=vp&impl=s&correlator=", "time": 0 } ] } } }, { "script": "https://ocdn.eu/radp/js/radpGA4VideoEmbeds.js" } ] }, "OnettvVideo": { "MAIN_ELEMENT": { "preset": "mainVideoRADPGh", "enableGoogleAnalytics": 2, "volume": 0, "enableEndScreen": 1, "autoplayRelated": 1, "enableAds": 1, "adserverUrl": "https://pubads.g.doubleclick.net/gampad/live/ads?iu=/53159133/Pulsegh_video_new_640x360&description_url=[placeholder]&tfcd=0&npa=0&sz=640x360&gdfp_req=1&output=vast&unviewed_position_start=1&env=vp&impl=s&correlator=", "floatingControls": 1, "embedType": "inTextVideo", "showAdvertComment": 1 }, "INTEXT": { "preset": "mainVideoRADPGh", "enableGoogleAnalytics": 2, "volume": 0, "enableEndScreen": 1, "autoplayRelated": 1, "enableAds": 1, "adserverUrl": "https://pubads.g.doubleclick.net/gampad/live/ads?iu=/53159133/Pulsegh_video_new_640x360&description_url=[placeholder]&tfcd=0&npa=0&sz=640x360&gdfp_req=1&output=vast&unviewed_position_start=1&env=vp&impl=s&correlator=", "floatingControls": 1, "embedType": "inTextVideo", "showAdvertComment": 1 } }} var OneSignal = window.OneSignal || []; OneSignal.push(function() { OneSignal.SERVICE_WORKER_PARAM = { scope: '/push/onesignal/' }; OneSignal.SERVICE_WORKER_PATH = 'OneSignalSDKWorker.js' OneSignal.SERVICE_WORKER_UPDATER_PATH = 'OneSignalSDKUpdaterWorker.js' OneSignal.init({ requiresUserPrivacyConsent: !!(window.__tcfapi), appId: '07419cb6-42f8-45d3-a1e2-77a6ea5cf4b8', promptOptions: { slidedown: { prompts: [ { type: 'push', autoPrompt: true, text: { actionMessage: 'Don’t miss a thing! Get notifications for important news & events right in your browser', acceptButton: 'Allow', cancelButton: 'Cancel', }, delay: { pageViews: 3, timeDelay: 120, } } ] }, customlink: { enabled: true, style: 'button', size: 'medium', color: { button: '', text: '', }, text: { subscribe: 'ACTIVATE NOTIFICATION', unsubscribe: 'DEACTIVATE', explanation: 'Don’t miss a thing! Get notifications for important news & events right in your browser', }, unsubscribeEnabled: true, }, }, notifyButton: { enable: true, }, }); OneSignal.on('subscriptionChange', function(isSubscribed) { if (isSubscribed === true) { OneSignal.sendTags({ sub_cat: 'markets', }) } }); }); window.dataLayer = window.dataLayer || []; OneSignal.push(() => { OneSignal.on('notificationPermissionChange', permissionChange => { let push_action = 'close'; if (permissionChange.to === 'granted') { push_action = 'allow' } else if (permissionChange.to === 'block') { push_action = 'block' } window.dataLayer.push({ event: 'manage_push', method: 'native prompt', push_action }) }); OneSignal.on('popoverAllowClick', () => { window.dataLayer.push({ event: 'manage_push', method: 'slide prompt', push_action: 'allow', }) }); OneSignal.on('popoverCancelClick', () => { window.dataLayer.push({ event: 'manage_push', method: 'slide prompt', push_action: 'block', }) }); OneSignal.on('popoverClosed', () => { window.dataLayer.push({ event: 'manage_push', method: 'slide prompt', push_action: 'close', }) }); const pushBox = document.querySelector('#pushBox'); if (pushBox) { pushBox.addEventListener('click', async (e) => { if (e.target.nodeName === 'BUTTON') { window.dataLayer.push({ event: 'manage_push', method: 'push subscription form', push_action: !await OneSignal.getSubscription() ? 'activate' : 'deactivate', }) } }) } document.querySelector('body').addEventListener('click', async (e) => { if (['subscribe-button', 'unsubscribe-button'].includes(e.target.id)) { window.dataLayer.push({ event: 'manage_push', method: 'bell prompt', push_action: !await OneSignal.getSubscription() ? 'activate' : 'deactivate', }) } }) }); // Extra configuration for articles & category pages let osTagsForPage = {"local":0,"markets":0}; function osUpdateTags(osTags) { OneSignal.push(function() { OneSignal.isPushNotificationsEnabled(function(isEnabled) { if (isEnabled) { OneSignal.sendTags(osTags).then(function(tagsSent) {}); } }); }); } if (typeof localStorage !== "undefined") { let osTags = {}; let localTags = getOSTags(); let tagsUpdated = false; for (key in osTagsForPage) { if (key in localTags) { if (!isNaN(localTags[key])) { localTags[key] = (localTags[key] + 1 || 1); osTags[key] = localTags[key]; tagsUpdated = true; } } else { osTags[key] = 1; tagsUpdated = true; } } localStorage.setItem('osTags', JSON.stringify(osTags)); if (tagsUpdated) { osUpdateTags(osTags); } function getOSTags() { return localStorage.getItem('osTags') ? JSON.parse(localStorage.getItem('osTags')) : []; } } (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'}); var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true; j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-KWW8L9R'); (function () { var PUBLISHER_ID = 'businessinsiderafrica-businessinsiderafrica'; var PAGE_TYPE = 'article'; var LOADER_URL = '//cdn.taboola.com/libtrc/' + PUBLISHER_ID + '/loader.js'; var LOADER_PRIVACY_URL = '//static.tblcontent.com/libtrc/' + PUBLISHER_ID + '/loader.privacy.js'; var PIXEL_URL = 'https://static.qovani.com/libtrc/tr5?type=pixel&publisher=' + PUBLISHER_ID; var SCRIPT_ID = 'tb_loader_script'; window._taboola = window._taboola || []; var pageTypePush = {}; pageTypePush[PAGE_TYPE] = 'auto'; _taboola.push(pageTypePush); new Image().src = PIXEL_URL; var firstScript = document.getElementsByTagName('script')[0]; function injectLoader(id, src, fallbackSrc) { if (document.getElementById(id)) return; var s = document.createElement('script'); s.async = true; s.src = src; s.id = id; if (fallbackSrc) { s.onerror = function () { if (s.parentNode) s.parentNode.removeChild(s); injectLoader(SCRIPT_ID + '_fb', fallbackSrc, null); }; } firstScript.parentNode.insertBefore(s, firstScript); } injectLoader(SCRIPT_ID, LOADER_URL, LOADER_PRIVACY_URL); if (window.performance && typeof window.performance.mark === 'function') { window.performance.mark('tbl_ic'); } })(); Markets Leaders Careers Lifestyle Markets Leaders Careers Lifestyle facebook twitter instagram linkedIn googleNews O World globe An icon of the world globe, indicating different international options." Business Insider Edition

The Central Bank of Egypt (CBE) has announced that recent financial restrictions imposed by the U.S. on the United Arab Emirates branch of Banque Misr do not impact the bank's domestic operations or any other financial institutions in Egypt.

U.S. restricts UAE bank branch over Iran links as Africa’s 2nd-largest economy says its banks are unaffected [Image Credit: Egypt Today] The U.S. has imposed financial restrictions on the UAE branch of Banque Misr as part of efforts to target Iranian financial networks. The U.S. Treasury accuses the UAE-based branch of processing about $1.8 billion for entities linked to Iranian shadow banking. These measures restrict the UAE branch’s access to U.S. financial services but do not affect banking operations within Egypt. Egyptian authorities are coordinating with the U.S. and have reassured stakeholders that Egypt’s banking system remains stable. ADVERTISEMENT Read Also markets After capturing Venezuela’s president, Trump secures 65 billion barrels of oil as US still buys $8 billion from 2 African nations markets World’s 8th-richest nation and Asia’s richest economy make a fresh move with Africa’s 2nd-largest economy, Egypt markets U.S. deepens ties with one of Africa’s largest economies across major sectors as trade nears $15 billion window._taboola = window._taboola || []; _taboola.push({ mode: 'thumbnails-mid-n', container: 'taboola-thumbnails-mid-1', placement: 'Thumbnails Mid 1', target_type: 'mix' }); The restrictions, announced on Friday, are part of a broader effort by the United States government to disrupt financial networks associated with Iran.

Specifically, the U.S. Treasury Department accused the UAE-based unit of Banque Misr of processing approximately $1.8 billion in transactions between January 2024 and June 2026 for entities allegedly connected to "Iranian shadow banking networks".

DON'T MISS THIS: Africa’s biggest bank considers stake in Nigerian fintech OPay ahead of planned $4 billion US IPO

These penalties have been instituted under the Trump administration's Operation Economic Outcast initiative, which seeks to cut off Tehran's access to international funds.

Consequently, the targeted UAE branch has had its access to U.S. financial services, including correspondent banking, restricted.

Egyptian banking authorities were quick to clarify that the scope of the American enforcement action is highly specific.

According to a formal statement by the Central Bank of Egypt published by Egypt Today, the measures "are limited to transactions conducted by Banque Misr’s UAE branch with US dollar correspondent banks".

The central bank emphasized that these penalties "do not extend to Banque Misr in Egypt or any other Egyptian banks".

DON'T MISS THIS: Capitec billionaire-linked firms give $3.4 million, more than half of funding declared by South Africa’s second-largest party

Additionally, other overseas branches of Banque Misr remain entirely clear of these newly announced limitations.

To manage the diplomatic and financial aspects of the situation, the CBE alongside Egypt's Ministry of Foreign Affairs is currently in contact with U.S. officials regarding the UAE branch.

Reassuring depositors and international partners alike, the central bank "reaffirmed the strength and resilience of Egypt’s banking sector".

Through these proactive clarifications, Egypt has made it clear that its core domestic banking infrastructure remains insulated from the overseas dispute.

Awogbemila Temitope Awogbemila Temitope is a Junior Reporter at Business Insider Africa. He covers technology and business. His work has appeared in MacObserver, HotHardware, and XDA Developers. ADVERTISEMENT Recommended articles World’s former youngest king dies at 34 after taking charge of an East African kingdom at age 3 Glencore faces $1.4 billion lawsuit threat while pursuing $9 billion Congo copper and cobalt deal Libyan state bank takes Burkina Faso to World Bank tribunal after military government seizes its 50% stake South Africa welcomes nearly 1 million tourists as arrivals from India fall 27% and China 20% EU formally challenges Sappi’s $1.66 billion plan to create Europe’s biggest paper producer Morocco’s phosphate giant plans $450 million US fertiliser plant, America’s first in more than 40 years After capturing Venezuela’s president, Trump secures 65 billion barrels of oil as US still buys $8 billion from 2 African nations East Africa’s richest man Mo Dewji has put nearly $680 million behind aggressive African expansion in 2026 as he targets a $10 billion empire Sudanese-British billionaire Mo Ibrahim warns Zambia’s President Hichilema not to squander his democratic legacy amid post-election tensions window._taboola = window._taboola || []; _taboola.push( {mode: 'thumbnails-a', container: 'taboola-below-article-thumbnails', placement: 'Below Article Thumbnails', target_type: 'mix'} ); ADVERTISEMENT Trending World’s 2nd most powerful military sends six advanced J-16 fighter jets to Africa’s strongest military in a first-ever deployment World’s 2nd most powerful military delivers latest batch of world’s longest-range Su-34 fighter jets as Algeria puts them into action Grammy winner Black Coffee wins $438,000 court battle against Maserati over undelivered luxury car 2 years after taking control from foreign operators, Niger grants major uranium permits to national companies {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://africa.businessinsider.com/#/schema/Organization/1","name":"Business Insider Africa","image":"","alternateName":"","legalName":"","url":"https://africa.businessinsider.com/","logo":"","email":"","telephone":"2349139294451 ","employee":[{"@id":"https://africa.businessinsider.com/#/schema/Person/"}],"description":"Read the latest news across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone.","sameAs":["https://www.facebook.com/BusinessInsiderSSA","https://twitter.com/BusInsiderSSA","https://instagram.com/businessinsiderssa","https://news.google.com/publications/CAAqBwgKMJzpnQswrfO1Aw","https://africa.businessinsider.com/newsletter"],"address":{"@id":"https://africa.businessinsider.com/#/schema/Address/Organization/1"},"contactPoint":{"@type":"ContactPoint","telephone":"2349139294451 ","contactType":"Customer Service","email":""},"founder":"","parentOrganization":{"@id":""},"memberOf":{"@id":""},"award":[]},{"@type":"WebPage","@id":"https://africa.businessinsider.com/local/markets/us-hits-africas-2nd-largest-economy-over-iran-linked-transactions-but-the-northern/56xblvh","url":"https://africa.businessinsider.com/local/markets/us-hits-africas-2nd-largest-economy-over-iran-linked-transactions-but-the-northern/56xblvh","name":"Business Insider Africa","description":"Read the latest news across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone.","datePublished":"2026-08-29T07:00:00.000+01:00","isPartOf":{"@id":"https://africa.businessinsider.com/#/schema/Website/1"},"primaryImageOfPage":{"@id":""},"breadcrumb":{"@id":"https://africa.businessinsider.com/#/schema/BreadcrumbList/56xblvh"}},{"@type":"BreadcrumbList","@id":"https://africa.businessinsider.com/#/schema/BreadcrumbList/56xblvh","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":{"@id":"https://africa.businessinsider.com"}},{"@type":"ListItem","position":2,"name":"Local","item":{"@id":"https://africa.businessinsider.com/local"}},{"@type":"ListItem","position":3,"name":"Markets","item":{"@id":"https://africa.businessinsider.com/local/markets"}},{"@type":"ListItem","position":4,"name":"Us Hits Africas 2nd Largest Economy Over Iran Linked Transactions But The Northern","item":{"@id":"https://africa.businessinsider.com/local/markets/us-hits-africas-2nd-largest-economy-over-iran-linked-transactions-but-the-northern/56xblvh"}}]},{"@type":"WebSite","@id":"https://africa.businessinsider.com/#/schema/WebSite/1","url":"https://africa.businessinsider.com/","name":"Business Insider Africa","alternateName":"","publisher":{"@id":"https://africa.businessinsider.com/#/schema/Organization/1"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://africa.businessinsider.com/search?q={search_term_string}"},"query-input":"required name=search_term_string"}},{"@type":"NewsArticle","@id":"https://africa.businessinsider.com/local/markets/us-hits-africas-2nd-largest-economy-over-iran-linked-transactions-but-the-northern/56xblvh#/schema/Article/56xblvh","mainEntityOfPage":{"@type":"WebPage","@id":"https://africa.businessinsider.com/local/markets/us-hits-africas-2nd-largest-economy-over-iran-linked-transactions-but-the-northern/56xblvh"},"isPartOf":{"@id":"https://africa.businessinsider.com/local/markets/us-hits-africas-2nd-largest-economy-over-iran-linked-transactions-but-the-northern/56xblvh"},"headline":"U.S. restricts UAE bank branch over Iran links as Africa’s 2nd-largest economy says its banks are unaffected","image":["https://ocdn.eu/pulscms/MDA_/97118359da336dfc2a357e50a433ac61.jpg"],"datePublished":"2026-08-29T07:00:00.000+01:00","author":{"@id":"https://africa.businessinsider.com/#/schema/Person/awogbemila-temitope"},"publisher":{"@id":"https://africa.businessinsider.com/#/schema/Organization/1"},"articleSection":"markets","description":"The Central Bank of Egypt (CBE) has announced that recent financial restrictions imposed by the U.S. on the United Arab Emirates branch of Banque Misr do not impact the banks domestic operations or any other financial institutions in Egypt.","isAccessibleForFree":true}]} Home Markets Leaders Careers Lifestyle About us Advertise with us Terms & Conditions Privacy Policy Social Facebook Twitter Instagram Google News Newsletter International Editions: INTL AS AT DE ES IN JP MX NL PL ZA © 2026 africa.businessinsider.com