The US measure is not yet in force: it is a proposed rule. The Central Bank of the UAE has opened an urgent review of the UAE branches, while the UAE and Egyptian central banks confirmed on 30 August that operations continue normally.
What happened
On 28 August 2026, the US Financial Crimes Enforcement Network (FinCEN), the US Treasury bureau responsible for combating financial crime, published a proposed rule that, if finalised, would prohibit US financial institutions from opening or maintaining correspondent accounts for Banque Misr UAE. On 29 August, the Central Bank of the UAE (CBUAE) ordered an urgent and in-depth review of the bank's UAE branches. On 30 August, the CBUAE and the Central Bank of Egypt confirmed that the UAE branches continue to operate normally.
What changes in practice
There is currently no UAE prohibition on using Banque Misr UAE, and the US measure is not yet effective: it is a proposal, not a final sanction. What has changed is the level of scrutiny around flows involving the bank, particularly transactions that touch the US financial system or are denominated in US dollars. For a business, the practical question is not whether the account is closed — it is not — but how dependent the company is on a single banking channel for receipts and payments.
Who it applies to
The FinCEN proposal directly concerns US financial institutions and their correspondent banking relationships with Banque Misr UAE. For a UAE business, the effect is indirect but potentially material if it uses Banque Misr UAE for international US-dollar flows, relies on payments that pass through US correspondent banks, or has no alternative bank account that is already operational. Businesses that do not use Banque Misr UAE have no new obligation arising from this development.
The exposure
The exposure is not an automatic loss of funds. It is the operational risk of delays, additional document requests and possible constraints on US-dollar payment corridors if the US proposal is finalised or if the CBUAE review leads to further measures. A company concentrating all receipts and payments in one account can discover that it has no practical alternative precisely when it needs to pay a supplier, receive a customer payment or evidence the source of funds.
What to do now
If your business uses Banque Misr UAE, identify the US-dollar payments due over the next four weeks and check which ones involve US counterparties or correspondent banks. Keep the Know Your Customer (KYC) file ready, including contracts, invoices, source-of-funds evidence and a clear commercial explanation of the flows. Then confirm whether a second bank account is genuinely usable: an application in progress is not the same as an operational alternative. If your business does not use Banque Misr UAE, no action is required solely because of this development.
Sources
- https://centralbank.ae/en/news-and-publications/news-and-insights/press-release/statement-regarding-branches-of-banque-misr-operating-in-the-uae/
- https://www.wam.ae/en/article/c1ztlsk-cbuae-central-bank-egypt-issue-joint-statement
- https://www.fincen.gov/news/news-releases/fincen-proposes-rule-would-revoke-banque-misr-uaes-correspondent-banking-access
Published 31 August 2026 on the basis of public sources and official United Arab Emirates instruments. This is not legal or tax advice. Verify your position with a qualified professional before acting.