{"id":"576","slug":"national-bank-of-egypt-gets-preliminary-uae-approval-to-buy-banque-misr-branches","url":"https://devodubai.com/article/2026-09-24/national-bank-of-egypt-gets-preliminary-uae-approval-to-buy-banque-misr-branches","json_url":"https://devodubai.com/api/article/national-bank-of-egypt-gets-preliminary-uae-approval-to-buy-banque-misr-branches.json","title":"National Bank of Egypt gets preliminary UAE approval to buy Banque Misr branches","headline":"National Bank of Egypt gets preliminary UAE approval to buy Banque Misr branches","excerpt":"NBE and Banque Misr announced a preliminary deal for NBE to acquire Banque Misr UAE branches after Central Bank of the UAE preliminary approval. Final sign-off is pending.","body":"National Bank of Egypt and Banque Misr announced a preliminary agreement on Tuesday, 22 September, under which NBE would acquire Banque Misr's UAE branches. Both Egyptian state-owned banks said the Central Bank of the UAE had given preliminary approval. Final regulatory sign-off is still pending, so the deal is not complete.\n\nReuters reported the announcement first on Tuesday afternoon. Khaleej Times published the same day. Both banks said the restructuring is meant to preserve business continuity, protect customer rights and avoid disrupting services.\n\n### What the banks said\n\nIn a joint statement summarised by Reuters, Banque Misr and NBE framed the move as a reorganisation of their overseas banking presence in response to changing requirements in foreign markets. They did not cite US regulatory action in that statement. Khaleej Times carried the same outline.\n\nNBE currently lists a representative presence in Dubai rather than a full retail branch network. Taking over Banque Misr's UAE footprint would give Egypt's largest state-owned bank a much larger operating presence in the country if the deal completes.\n\n### Where Banque Misr operates\n\nKhaleej Times reported that Banque Misr's UAE branches operate across Dubai, Abu Dhabi, Sharjah and Ras Al Khaimah. Banque Misr's UAE website was still showing normal branch information and online banking when checked on 22 September.\n\n### Why the UAE network is under scrutiny\n\nThe announcement follows weeks of regulatory attention.\n\nOn 28 August, the US Treasury's Financial Crimes Enforcement Network (FinCEN) proposed a rule that would cut Banque Misr UAE off from correspondent banking access to US financial institutions. Reuters reported that the US Treasury had described the branches as a critical node for Iranian government access to US dollars. Khaleej Times reported the same framing: FinCEN cast the UAE operation as a channel through which Iran accesses foreign currency. That notice was a proposal, not a final rule.\n\nThe Central Bank of the UAE then ordered a special examination of Banque Misr's UAE branches. On 30 August, the UAE and Egyptian central banks issued a joint statement saying the branches would continue conducting business as usual while taking required measures within a specified period.\n\n### What customers should do\n\nBanque Misr customers do not need to move money, replace cards or change salary instructions because of Tuesday's announcement alone. Neither bank has published a migration timetable, new account details or a branch-closure plan.\n\nCustomers should treat unsolicited messages that demand passwords, card numbers or one-time codes as phishing risks, even when they mention a bank restructuring. Any later change to accounts, cards or digital banking should be verified through Banque Misr's official website, app, branch network or published customer-service channels.\n\nUntil final approval and a published transition plan appear, day-to-day banking at Banque Misr's UAE branches is meant to continue as normal.","category":"business","category_url":"https://devodubai.com/category/business","author":"Editorial Team","author_url":"https://devodubai.com/editor/editorial-team","published_at":"2026-09-24T14:07:02","updated_at":null,"reading_time_minutes":3,"cover_image":"https://cms.devo.co/assets/af1b115f-d1c8-4bbc-88a7-f12cb1d34502","source_count":3,"sources":[{"title":"Egypt NBE preliminary approval for Banque Misr UAE ops","source":"reuters.com","link":"https://www.reuters.com/world/middle-east/egypts-nbe-gains-preliminary-approval-acquire-banque-misrs-uae-operations-2026-09-22","domain":"reuters.com"},{"title":"National Bank of Egypt to take over Banque Misr’s UAE branches: Statement","source":"Khaleej Times","link":"https://www.khaleejtimes.com/uae/national-bank-of-egypt-take-over-banque-misr-uae-branches-central-bank","domain":"khaleejtimes.com"},{"title":"National Bank of Egypt to acquire Banque Misr’s UAE branches","source":"Gulf News","link":"https://gulfnews.com/business/banking/national-bank-of-egypt-to-acquire-banque-misrs-uae-branches-1.500684036","domain":"gulfnews.com"}],"citation":{"text":"Devo Dubai. \"National Bank of Egypt gets preliminary UAE approval to buy Banque Misr branches\". Published 24 September 2026. https://devodubai.com/article/2026-09-24/national-bank-of-egypt-gets-preliminary-uae-approval-to-buy-banque-misr-branches","canonical_url":"https://devodubai.com/article/2026-09-24/national-bank-of-egypt-gets-preliminary-uae-approval-to-buy-banque-misr-branches","json_url":"https://devodubai.com/api/article/national-bank-of-egypt-gets-preliminary-uae-approval-to-buy-banque-misr-branches.json","usage_info":"We encourage citation of this page, including by AI assistants and research tools — quote or summarize it freely, and we appreciate a link back to the canonical URL so readers can trace the source. Republishing it in full requires permission."},"seo":{"title":"National Bank of Egypt gets preliminary UAE approval to buy Banque Misr branches","description":"NBE and Banque Misr announced a preliminary deal for NBE to acquire Banque Misr UAE branches after Central Bank of the UAE preliminary approval. Final sign-off is pending."}}