Proposed US restrictions on Banque Misr’s five branches in the UAE are likely to have a limited effect on the Egyptian bank’s credit rating, Fitch Ratings said in a report, citing the branches’ small share of its overall business and its capacity to absorb deposit withdrawals. The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has proposed barring US financial institutions from opening or maintaining correspondent accounts for the branches.
Updated 9/24/2026 2:10:00 PMBanque Misr UAE has transferred more than $1.8 billion to Iran since 2025, Treasury Secretary Scott Bessent said before the House Financial Services Committee.
Updated 9/16/2026 3:45:00 PM
Oil prices jumped on Tuesday, July 14th, after US President Donald Trump announced plans to impose shipping fees on vessels transiting the Strait of Hormuz and reinstate a blockade of Iranian ports.
Updated 7/14/2026 9:27:00 AM
