Abu dhabi: The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt have jointly confirmed their unwavering cooperation and coordination to ensure the normal operation of all Banque Misr branches within the United Arab Emirates.

According to Emirates News Agency, this affirmation comes as the two central banks address a proposal from the US Department of the Treasury. The proposal involves a regulatory rule suggesting the imposition of a special measure concerning the Banque Misr branches operating in the UAE.

In their joint statement, the central banks emphasized that Banque Misr branches in the UAE are committed to implementing all necessary actions and measures within the designated timeframe to comply with the regulatory requirements.