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FINANCIAL NEWS
Swiss banks to reveal Mubarak’s assets
16 Feb 2011
(MENAFN) The foreign ministry in Switzerland said that the country’s banks are revealing information regarding assets of Hosni Mubarak, the former Egyptian president, as well as the assets of his associates, reported The National.
The ministry said that assets regarding ten of Mubarak’s family and others close to him had been frozen. Swiss banks started disclosing the extent of Mubarak’s holdings and his entourage, without giving exact numbers.
Although there are no official figures regarding the fortune Mubarak gathered during his 30 years of ruling, it is believed that he secured billions of US dollars.
It is with noting that the Swiss government is trying to improve the image of the country’s famously secretive banking system by cooperating with such investigations.
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