NBE gets preliminary nod from CBUAE to acquire Banque Misr’s UAE branches
· Egyptian market news · MISR
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Better handled at home
The National Bank of Egypt (NBE) secured preliminary approval from the Central Bank of the UAE (CBUAE) to acquire Banque Misr’s branches in the Emirates joint statement (pdf)
“A purely political solution”
The US Federal Reserve was likely briefed on the solutions under consideration
Whether the move makes sense for NBE is another question.
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Bank premises were never the argument — they are taxable.
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