MB balances abroad might reach 83 billion EGP

[لافانيا]

MB balances abroad might reach 83 billion EGP

Dec. 28, 2013 14:52

MB supreme guide Mohamed Badie - YOUM7/(Archive)

By OMNIA AL-MOUGY

CAIRO: Financial supervision authorities are currently reckoning properties and funds that belong to Muslim Brotherhood members inside and outside Egypt after the decision of the cabinet to consider the group officially as a terrorist organization, a source within the authority said Friday.

The initial reckoning estimates the funds and properties at about 83 billion EGP ($ 12 billion.)

The source added that once investigations are completed and funds would appear to have been smuggled from Egypt, the evidence would be delivered to the concerned bodies – such as the Illicit Gains Authority, the Reimbursement Commission and Muslim Brotherhood Funds Reckoning Commission headed by Judge Ezzat Khamis – to take suitable measures.

Members of the guidance office of the Brotherhood own assets, lands, factories and companies in various European countries, according to the source. These countries, through the International Cooperation Office and the Ministry of Foreign Affairs, will be officially asked to freeze these funds as they are considered as laundered money that might be used in Egypt to finance attacks such as the explosion at the Mansura Directorate of Security.

A source from the International Cooperation Office explained that the Convention for the Suppression of Terrorism stipulates that no country can withdraw from this agreement except by a written request sent to the Secretary General of the Arab League. Therefore countries should cooperate with Egypt’s requests to freeze Brotherhood funds.