UAE, Egypt coordinate over Banque Misr bank after US Treasury notice on Iran links, dollar curbs

The United Arab Emirates and Egyptian central banks are coordinating over Banque Misr after the US Treasury proposed cutting off the Egyptian bank’s UAE branches from dollar transactions over alleged financial links to Iran .

In a joint statement on Sunday, the two central banks said Banque Misr would take “all necessary measures” to continue its business as usual, reported Reuters.