Egypt reaches reconciliation deal with Mubarak-era figures
Egypt has had returned around $174 million in cash and land after the government reached a reconciliation deal with former ministers and businessmen who served or were prominent under deposed president Hosni Mubarak, reported Al-Ahram's Arabic news site Saturday.
Among the figures that have settled their disputes with the Egyptian government is Amr Assal, former chief of Egypt’s Industrial Development Authority, Mustafa Al-Husseini, attorney general of the Public Funds Prosecution told Al-Ahram.
Al-Husseini added that the Cabinet is currently considering reconciliation with the Dubai-based iconic property group Damac, which will return to the governmen, lands located in Egypt’s new suburbs worth $1.3 billion.
Earlier this month, Minister of Finance El-Morsi Hegazi said that two new bank accounts at the Central Bank of Egypt (CBE) have been opened for retrieved funds, whether from abroad or after reconciliation initiatives.
- Qatar expansion driving down credit growth - Barclays
- 7% of Emaratis had to deal with a false positive with their bank - survey
- Trade between 18 Arab countries hikes to $2.1 trillion - IMF
- Allocating more funds to SWF would improve Saudi wealth returns
- Sovereign wealth funds in GCC focus more on local investments
- Reconciliation for corrupt businesses from the Mubarak era?
- Egypt's top construction firm to pay $1 billion in tax evasion dispute
- Egypt: $1.8 billion recovered from Mubarak-era figures
- Real estate reconciliation: Egypt plans seeks new deal despite corruption fears
- Egypt eyes Iraq for a $4 billion cash boost