Illicit Gains Authority checks officials’ financial disclosures

CAIRO – 13 May 2018: The Illicit Gains Authority (IGA), which comprises 700 judges, checked the financial disclosure of over 1.98 million administrative employees and officials, including ministers and governors, sources said.

Since January, the IGA has received more than 1.1 million financial disclosures from administrative employees, high level sources revealed.

Head and members of the National Election Authority (NEA), chairmen of political parties, and heads of the National Media and Journalism Authorities have also declared their assets to the Illicit Gains Authority.

The financial disclosures of Parliament speaker Ali Abdel Aal, Parliament members, Prime Minister Sherif Ismail and his deputies were also checked.

According to the law, the president, Parliament members, and the Cabinet have to submit financial disclosures before taking up and leaving their posts, and at the end of every year. Army officers also declare their assets every certain period of time, and before retirement or leaving the post.

Furthermore, the president, prime minister, and ministers have to publish their financial disclosures in Egypt’s Official Gazette, according to article 166 of the 2014 constitution.

In February, the IGA decided to form a committee to review the assets of Alexandria deputy governor, Soad el-Kholy, who was arrested in August 2017 over bribery charges.

Reconciliation Deals

Amendments to the Illicit Gains Authority law, passed during 2015, gave defendants on the assets-freeze list an opportunity to reconcile with the state. It was mentioned that in return for reconciliation with the state, all the charges against them would be dropped.

The new amendments presented a good opportunity for several Mubarak-era figures and businessmen; however, not all of them succeeded to meet the criteria mentioned by the state.


Former Trade Minister Rashid Mohamed Rashid - YOUM7 (Archive)/Sami Wahib

In June 2017, former Trade Minister Rashid Mohamed Rashid, whose assets were frozen pending investigations, returned to Egypt from Italy after reconciling with the government.

All criminal charges against Rashid were dropped following a reconciliation deal with the government that was approved in November, 2016. The deal required Rashid to pay nearly LE 500 million ($28 million) to the government.


FILE - Egyptian Businessman Hussein Salem

Also, in July 2017, Spanish-Egyptian businessman Hussein Salem arrived in Cairo from Spain after reaching a reconciliation agreement with the government.

He was accused of profiting from his relationship with ousted President Mubarak and exporting gas to Israel for less than the global price in order to achieve personal benefits.

The Egyptian authorities had announced reconciliation with Salem under the condition that he gives up 75 percent of his properties, which are worth more than LE 5.8 billion.

According to data released by the IGA, 37 out of 93 requests for reconciliation deals from businessmen, investors, Mubarak regime figures, and former public servants have ended in settlements since the legal amendments to regulate cases involving the misuse of public funds or illicit gains were introduced in 2015, according to Al Ahram Weekly.