The Central Bank of the United Arab Emirates will conduct an urgent examination of Banque Misr’s Emirati branches after the U.S. Treasury Department moved to cut the bank’s UAE operations off from the dollar clearing system over alleged ties to Iran. The review will examine more than two years of transactions identified in Friday’s U.S. enforcement action, focusing on banking activity involving companies named by U.S. authorities. FinCEN (U.S. financial-crime enforcement network) designated Banque Misr UAE as a critical node in Tehran’s access to foreign currency. The UAE regulator is assessing possible regulatory measures affecting Banque Misr if the proposed U.S. action takes effect, while requiring that customer obligations in the UAE continue to be met. FinCEN’s proposed rule, part of Operation Economic Outcast targeting Iranian financial channels, is subject to a 30-day public comment period and applies only to Banque Misr’s Emirati operations, not its primary business in Cairo or other international branches.