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U.A.E. central bank to review Banque Misr after Iran sanctions claims

The U.S. Treasury alleged Banque Misr helped Iran through UAE branches, prompting the Emirati central bank to launch an examination.

Reported · Written up by our desk · Trade & Tariffs

The U.S. Treasury Department accused Banque Misr of facilitating support for Iran through its branches in the United Arab Emirates, according to The New York Times.

Following the accusation, the Emirati central bank said it would review Banque Misr and conduct an examination related to the sanctions claims.

The matter centers on how banks operating in the UAE could be used to support Iran, which has drawn U.S. enforcement scrutiny.

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