Bank of Egypt Reaffirms UAE Services

Egyptian Bank confirms that it is currently reviewing a notice issued by the U.S. Department of the Treasury regarding restrictions on banking messaging services in dollars for its branch in the UAE. This comes after the department's decision to prohibit dollar transactions related to Iran. The bank clarified that this measure is limited to the UAE branch and does not affect its branches in Egypt or internationally. The Central Bank of Egypt is in contact with the American authorities concerning these measures. This move is part of the broader framework of U.S. sanctions aimed at isolating Iran economically, amidst escalating tensions between Washington and Tehran and their impact on global markets.

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