The Central Bank of Egypt (CBE) and Misr Bank announced on Tuesday that the UAE Central Bank has granted preliminary approval for the CBE's request to acquire Misr Bank's branches in the country.
Both Egyptian banks stated that this restructuring will ensure business continuity and protect client rights. This decision followed an audit of Misr Bank's operations in the UAE, which was commissioned by the UAE Central Bank in August.
Lenders stated that the transformation of their banking presence in the UAE will be carried out in full compliance with the current legal and regulatory frameworks of the UAE. Both organizations aim to unify their international operations within a single strategic vision.
Misr Bank and the CBE emphasized that this step reflects their shared commitment to an orderly transition, maintaining operational continuity, and fully protecting the interests and rights of clients in the UAE.