The U.S. Treasury is taking action to sanction the UAE branch of Egypt's Banque Misr, which it says processed roughly $1.8 billion over two years for around 100 companies potentially tied to Iran's shadow banking network.
Key facts
- The U.S. Treasury is moving to sanction the UAE branch of Egyptian lender Banque Misr.
- Treasury says the branch processed about $1.8 billion over two years.
- The transactions involved some 100 companies potentially part of Iran's shadow banking network.
- The action was reported on August 28, 2026.
The U.S. Treasury is moving to impose sanctions on the United Arab Emirates branch of Egyptian lender Banque Misr over alleged ties to Iran, according to CNBC.
Treasury said the branch, Banque Misr UAE, processed about $1.8 billion over a two-year period. The transactions involved roughly 100 companies that are potentially part of Iran’s shadow banking network, according to the department.
A shadow banking network typically refers to financial channels used to move money outside of standard, monitored banking systems. Treasury’s characterization suggests the flagged companies may have been used to facilitate transactions connected to Iran.
The reported action targets the UAE-based operations of the bank rather than its broader Egyptian parent, focusing on the specific branch that Treasury says handled the flagged transactions.
The details available from the source are limited to the figures and description provided by Treasury and reported by CNBC on August 28, 2026. No further specifics on the named companies, the timing of formal sanctions, or responses from Banque Misr were included in the source material.
Why it matters
Sanctions actions targeting banks with international branches can disrupt cross-border finance and pressure institutions to sever ties with entities linked to Iran. The move signals continued U.S. efforts to choke off channels it says are used to evade financial restrictions.
Frequently asked questions
What bank is the U.S. Treasury moving to sanction?
The Treasury is moving to sanction the UAE branch of Banque Misr, an Egyptian lender, according to CNBC.
How much money is involved?
Treasury said Banque Misr UAE processed about $1.8 billion over two years for some 100 companies potentially part of Iran's shadow banking network.
Why is the branch being targeted?
Treasury alleges the branch processed transactions for companies potentially tied to Iran's shadow banking network, according to the source.