The UAE Central Bank stated that Banque Misr's branches in the UAE are governed by local laws and regulations, and urged licensed banks to avoid exposing the financial system to reputational risks. In a joint statement, the UAE and Egypt central banks affirmed full cooperation and said the branches will take all necessary steps to maintain normal business.
Sentimentneutral 50
Neutral · 50 of 100
Impact40
low · stays off the top drivers
Confidence90%
high confidence · 10 wires
Eventdeveloping
v10 · alerts feed only
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UAE, Egypt central banks: Banque Misr UAE branches to take necessary measuresneutral 50 · impact 20
UAE and Egypt central banks affirm permanent cooperation on Banque Misr UAE branchesneutral 50 · impact 20
THE UAE AND EGYPT CENTRAL BANKS SAY IN A JOINT STATEMENT THAT BANQUE MISR BRANCHES IN THE UAE WILL TAKE ALL NECESSARY STEPS TO MAINTAIN NORMAL BUSINESS, AFFIRMING FULL COOPERATION AND COORDINATION ON THE BRANCHES OF BANQUE MISR UAE
UAE, Egypt central banks: Banque Misr branches in UAE will take all necessary steps to maintain normal business – joint statement
UAE, Egypt central banks affirm full cooperation on Banque Misr UAE branchesneutral 50 · impact 25
UAE Central Bank: Banque Misr Branches Subject to Local Lawsneutral 50 · impact 10
Central Bank of the UAE: We expect licensed banks in the UAE not to expose the UAE's financial system to reputational risks and to respect the laws and regulations of the countries whose financial institutions they use to conduct transactions.
UAE Central Bank: Branches of Banque Misr in UAE Subject to Local Laws and Regulations - Statement
UAE Central Bank warns banks to avoid reputational risks to financial systemneutral 50 · impact 40
UAE Central Bank: Banque Misr branches subject to local laws and regulationsneutral 50 · impact 15 · this page
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