Egypt’s largest state-owned bank is being fined by American
regulators for complying with the Arab boycott of Israel.
In a formal order issued in January, Darryl Jackson, a U.S. assistant secretary of commerce for export
enforcement, levied a $22,500 fine against National Bank of Egypt’s New York branch, according to the Jerusalem Post.
The fine followed an agreement to settle charges brought by the Commerce Department’s
Bureau of Industry and Security alleging that the bank had provided invoices to
a Syrian firm declaring that certain goods had not been produced in Israel. American law bars firms from cooperating with
boycott-related requests.
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