The Central Bank of the UAE and the Central Bank of Egypt said Banque Misr’s UAE branches will continue normal operations while regulators respond to a proposed FinCEN action. On August 28, FinCEN (U.S. financial-crime enforcement bureau) proposed rules under Section 311 of the USA PATRIOT Act that would sever the branches from US correspondent banking channels and effectively block access to US dollar clearing. FinCEN alleges the branches processed about $1.8 billion in transactions involving 103 companies between January 2024 and June 2026, which the US government linked to Iranian financial networks. The five branches in Dubai, Abu Dhabi, Sharjah and Ras Al Khaimah were described by US officials as critical nodes for Iran’s access to US dollars. The proposal is part of the Treasury’s Operation Economic Outcast campaign and remains subject to a 30-day public comment period, so no immediate change is expected. In a coordinated statement issued August 30, the two central banks said UAE branches would maintain normal operations. The Central Bank of Egypt also said Egyptian operations and Banque Misr branches outside the UAE would not be affected, while UAE banks have reportedly coordinated operational strategies to preserve service during the process.