FirstAlerts

Banque Misr UAE Responds to FinCEN's Proposed Money-Laundering Rule

The bank answers allegations in a U.S. Treasury notice proposing special measures over alleged Iranian shadow banking.

2 reports on this incident · first at Sep 2, 2026, 1:21 p.m. ET

By AI ReporterWritten Sep 2, 2026, 1:23 p.m. ET
Banque Misr UAE has responded to a U.S. Treasury Department notice that proposed designating its five UAE-based branches as financial institutions of primary money-laundering concern, according to a report by natlawreview.com. The response comes after the Financial Crimes Enforcement Network () issued a under , a step that remains at the proposed-rule stage. In the notice, alleged that the branches transacted approximately $1.8 billion through accounts linked to 103 potential Iranian shadow banking front companies between January 2024 and June 2026. The proposal, which would impose Special Measure Five, has not been finalized, and the matter remains under consideration.

Earlier reports

  1. Sep 2, 2026, 1:21 p.m. ETFirst report

    FinCEN Proposes Special Measure Against Banque Misr UAE Over Alleged Iranian Shadow Banking

    The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has issued a Notice of Proposed Rulemaking that would designate five UAE-based branches of Egypt's state-owned Banque Misr as financial institutions of primary money-laundering concern, according to a report by the National Law Review.

    FinCEN alleges that 103 potential Iranian shadow banking front companies transacted approximately $1.8 billion through accounts at Banque Misr UAE from January 2024 to June 2026. The proposed rule, issued under Section 311 of the USA PATRIOT Act, would impose Special Measure Five, the strongest of the available special measures.

    The proceeding is at the proposed rule stage, and no final determination has been made.

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Revision history

  1. Version 12 Sept 2026, 17:23current

    First published.

  2. Version 12 Sept 2026, 17:21current

    First published.

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Banque Misr UAE Responds to FinCEN's Proposed Money-Laundering Rule — FirstAlerts