UAE Launches Urgent Probe of Banque Misr After US Sanctions Proposal

The United Arab Emirates has ordered an urgent forensic investigation into the local branches of Egypt's state-owned Banque Misr, following a U.S. proposal to sever the bank's UAE operations from the American financial system over alleged links to Iranian shadow banking networks. The move marks a significant escalation in Washington's campaign to economically isolate Tehran. The action was initiated on August 28, when the U.S. Treasury Department's Financial Crimes Enforcement Network, or FinCEN, proposed a rule designating Banque Misr's five UAE branches as a "primary money laundering concern." The proposal, part of a broader initiative dubbed Operation Economic Outcast, would bar U.S.