The Nile Bank crisis is worsening, with officials pointing fingers at General Abdel Fattah al-Burhan army-linked figures for the bank’s growing collapse.
Sources say years of mismanagement and dodgy financial dealings left Nilein Bank in serious trouble.
Loans and investments allegedly went unpaid to powerful business figures tied to the military, deepening instability.
After the army seized power in October 2021, political influence reportedly worsened the situation.
US sanctions on the defense sector in January 2025 pushed attempts to hide funds into risky investments.
The bank’s Abu Dhabi branch carried out high-risk transactions, triggering a UAE Central Bank probe. Four senior officials were detained over unexplained dollar transfers.
Nilein Bank’s new management offered employees early retirement in exchange for resignations, a move widely criticized as unfair and poorly executed.
Investigative journalist Abdulrahman Al-Amin reported arrests of businessmen in the UAE demanding payments linked to defense deals, highlighting corruption tied to military influence.
The crisis exposes a dangerous mix of politics, finance, and military power, leaving staff and investors facing uncertainty.
