# U.S. sanctions on Banque Misr UAE operations

> Live situation record from CLSTR: https://clstr.news/situations/us-sanctions-on-banque-misr-uae-operations
> Updated: 2026-09-22T17:48:16.000Z. Sources: 44. Developments: 2.

The U.S. Treasury Department proposed regulatory actions to restrict the United Arab Emirates branches of Banque Misr from accessing the U.S. financial system. This initiative, referred to as ‘Operation Economic Outcast,’ aims to disrupt Iranian financial networks. U.S. officials alleged that between January 2024 and June 2026, these UAE branches processed approximately $1.8 billion for 103 companies linked to Iranian shadow banking networks used to bypass international sanctions.

Banque Misr stated that the proposed measures were limited to its UAE operations and did not affect its domestic activities in Egypt. Following these regulatory pressures, the National Bank of Egypt announced plans to acquire Banque Misr’s branch network in the UAE. The Central Bank of the UAE has granted preliminary approval for this acquisition, which is intended to reorganize the bank’s presence in the region while complying with legal requirements.

## Claims

- The U.S. Treasury Department proposed special measures regarding Banque Misr's UAE branch due to money laundering and Iran-related transaction risks. (corroborated by 4 sources)
- Banque Misr stated that the U.S. measures are limited to its UAE branch and do not impact its operations in Egypt or other nations. (corroborated by 4 sources)
- The Central Bank of the UAE has granted preliminary approval for National Bank of Egypt to acquire Banque Misr's branches in the UAE. (corroborated by 3 sources)
- Banque Misr currently operates five branches in the UAE across Dubai, Abu Dhabi, Sharjah, and Ras Al Khaimah. (corroborated by 3 sources)
- The National Bank of Egypt expressed its desire to build a long-term banking relationship with the UAE and its regulatory institutions. (corroborated by 3 sources)
- U.S. authorities alleged that Banque Misr's branches transferred $1.8 billion to 103 companies potentially linked to Iranian banking networks between January 2024 and June 2026. (single source)

## Timeline

### 2026-09-22: National Bank of Egypt to acquire Banque Misr branches in UAE

The National Bank of Egypt plans to acquire Banque Misr's UAE branches following U.S. Treasury concerns regarding money laundering and transactions linked to Iran.

4 sources. https://clstr.news/cluster/national-bank-of-egypt-to-acquire-banque-misr-branches-in-uae

### 2026-08-29: Banque Misr UAE branches face U.S. financial restrictions

The U.S. Treasury has proposed restricting Banque Misr’s UAE branches from the U.S. financial system, alleging they processed $1.8 billion for Iranian-linked entities.

41 sources. https://clstr.news/cluster/us-restricts-banque-misr-uae-branch-over-alleged-iran-links

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Cite as: U.S. sanctions on Banque Misr UAE operations. CLSTR, https://clstr.news/situations/us-sanctions-on-banque-misr-uae-operations