Parse and loop through key value pairs in bash

file.conf

# this is a comment

MYVAR=My value
OKOK=asas
YES=asja

parse_key_value.sh

#!/usr/bin/bash

# Copyright 2020 - MIT, Mohamed Elbahja (http://git.io/mohamed).

cat file.conf | while read line || [[ -n $line ]];
do
   [[ ${line//[[:space:]]/} =~ ^#.* || -z "$line" ]] && continue
   echo $line | tr "=" "\n" | while read -r key; do
   read -r value
   	 echo "key: ${key} and value: ${value}";
   done
done