Banque Misr’s branches in the United Arab Emirates will continue to operate normally, according to a joint statement issued by the Central Bank of the UAE and the Central Bank of Egypt on Sunday. The announcement came in response to a recent decision by the United States Treasury concerning a regulatory exemption linked to the closure of Banque Misr’s UAE branches.

The two central banks emphasized their ongoing cooperation and coordination to ensure the smooth operation of the Egyptian lender’s branches within the UAE. They affirmed that Banque Misr’s UAE branches would carry out all their usual activities without interruption.

Additionally, the statement noted that Banque Misr will undertake all necessary measures and comply with the specified procedures within the timeframe outlined in the US Treasury’s decision. The regulatory exemption addressed aspects related to the potential closure, but the central banks confirmed that operations would continue uninterrupted.

The joint declaration reflects efforts by both regulatory authorities to maintain stability for Banque Misr’s business in the UAE, underscoring a commitment to support the bank’s presence and services in the region despite evolving regulatory challenges.