If indeed the charcoal filter is not there on the Euro F10 M5's, I would be inclined to remove mine, as well. Not certain on that, though.
As for a reusable air filter, AFE makes a reusable dry air filter that is not oiled. As others have mentioned, I would not recommend using an oiled filter with a MAF.
AFE claims 99.2% filtration efficiency and I wouldn't otherwise even consider another filter that did not at least claim to filter as well as a paper filter. AFE also claims that it even permits more air flow, 549 cfm compared to stock 377 cfm.
I've used AFE and AEM dry filters in the past and I have been impressed with the construction of the filters. They say they will last the life of the vehicle and they look like it. Cleans with soap and water, just let dry before you reinstall them.
https://www.ecstuning.com/b-afe-part.../31-10238~afe/
https://afepower.com/afe-power-31-10...ilter#overview
https://afepower.com/product-catalogs/air-filters