16 Feb 2011
(MENAFN) Washington-based Global Financial Integrity (GFI) announced in a report that the cost of illegal financial activities and government corruption such as corruption, tax evasion and crime in Egypt amounted to almost USD6 billion annually to a total of USD57.2 billion from 2000 to 2008, reported Gulf News.
The personal fortune of the resigned President Hosni Mubarak and his family is estimated to be between USD40 billion and USD70 billion. Switzerland froze Mubarak’s assets after he resigned and now the UK is pressured to trace and freeze Mubarak’s assets in the UK.
Former ministers and businessmen are being investigated by Egypt’s public prosecution for robbing public wealth. Also, they are not allowed to leave Egypt and their accounts have been frozen.
It is worth noting that privately owned wealth is estimated to be enough to cover USD32 billion of Egypt’s foreign debt.
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
27 Jan 2025
BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more