Editorial illustration of banking links between Egypt and the United Arab Emirates under review

الوِلَايَاتُ المُتَّحِدَةُ تَقْتَرِحُ قَيْدًا عَلَى فَرْعِ بَنْكِ مِصْرَ فِي الإِمَارَاتِ

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اِقْتَرَحَتْ شَبَكَةُ مُكَافَحَةِ الْجَرَائِمِ الْمَالِيَّةِ الْأَمْرِيكِيَّةُ، فِي ٢٨ أَغُسْطُسَ، قَاعِدَةً جَدِيدَةً لِفَرْعِ بَنْكِ مِصْرَ فِي الْإِمَارَاتِ.

وَإِذَا أَصْبَحَتِ الْقَاعِدَةُ نِهَائِيَّةً، فَسَتَمْنَعُ الْبُنُوكَ الْأَمْرِيكِيَّةَ مِنْ فَتْحِ حِسَابَاتٍ مُرَاسِلَةٍ لِلْفَرْعِ أَوْ إِبْقَائِهَا.

وَقَالَتْ وَزَارَةُ الْخِزَانَةِ الْأَمْرِيكِيَّةُ إِنَّ الْفَرْعَ عَالَجَ نَحْوَ ١٫٨ مِلْيَارِ دُولَارٍ لِأَكْثَرَ مِنْ مِئَةِ شَرِكَةٍ قَدْ تَكُونُ مُرْتَبِطَةً بِشَبَكَاتٍ مَالِيَّةٍ إِيرَانِيَّةٍ. وَهٰذِهِ مَعْلُومَاتٌ ذَكَرَتْهَا الْوِزَارَةُ.

وَلَمْ تَصِرِ الْقَاعِدَةُ قَرَارًا نِهَائِيًّا بَعْدُ، وَهِيَ مَفْتُوحَةٌ لِلتَّعْلِيقِ الْعَامِّ. وَأَكَّدَ الْبَنْكُ الْمَرْكَزِيُّ الْمِصْرِيُّ أَنَّ الْإِجْرَاءَ يَخُصُّ مُعَامَلَاتِ فَرْعِ الْإِمَارَاتِ بِالدُّولَارِ فَقَطْ، وَلَا يَشْمَلُ بَنْكَ مِصْرَ فِي مِصْرَ أَوْ فُرُوعَهُ الْأُخْرَى.

Show English Translation

United States Proposes Restriction on Banque Misr UAE Branch

On August 28, the US Financial Crimes Enforcement Network proposed a new rule concerning Banque Misr’s branch in the United Arab Emirates.

If the rule becomes final, it will prevent US banks from opening or keeping correspondent accounts for the branch.

The US Treasury Department said that the branch processed about $1.8 billion for more than one hundred companies that may be connected to Iranian financial networks. This is information stated by the department.

The rule has not become a final decision yet, and it is open for public comment. Egypt’s Central Bank confirmed that the measure concerns only the UAE branch’s dollar transactions and does not include Banque Misr in Egypt or its other branches.

Key Vocabulary

Arabic Part of speech English
قَاعِدَةٌ noun rule
فَرْعٌ noun branch
حِسَابٌ مُرَاسِلٌ noun phrase correspondent account
مَنْعٌ noun prevention
مُعَامَلَةٌ noun transaction
مُرْتَبِطَةٌ adjective connected
قَرَارٌ نِهَائِيٌّ noun phrase final decision
تَعْلِيقٌ عَامٌّ noun phrase public comment

Sources

  1. Financial Crimes Enforcement Network: FinCEN Proposes Rule that Would Revoke Banque Misr UAE’s Correspondent Banking Access to U.S. Financial Institutions
  2. Al Jazeera Arabic: بنك مصر يرد بشأن العقوبات الأمريكية على فرعه في الإمارات
  3. Ahram Online: US move targeting Banque Misr UAE does not affect Egypt’s banking sector: CBE

This learner article is an original summary based on the sources above. The featured image is an AI-generated editorial illustration.

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