Egypt Tax Authority unfreezes Zamalek bank accounts

CAIRO – 8 March 2018: Egypt Tax Authority unfroze Zamalek’s bank accounts in Banque Misr on Thursday after negotiating with Zamalek’s president Mortada Mansour.

Zamalek’s financial committee is negotiating with the other authorities that have arrears to unfreeze all the club’s accounts.

Zamalek will pay LE 40 million of the LE 160 million that they owe the bank; the remaining balance will be scheduled over installments. Zamalek’s financial committee also reached an agreement with the Social Insurance Authority to pay LE 10 million of the LE 28 million.

Zamalek’s successive boards in the past years have indebted the club.

Zamalek still pay dues for their former players like Junior Agogo, Mahmoud Fathallah, Ahmed Samir and Ricardo.

On the other hand, Zamalek’s first team delegation will leave Ethiopia on Thursday night after their 2-1 loss to Welayta Dicha on Wednesday in the CAF Confederation Cup’s first round, which was played at Hawassa International Stadium.