Assets
He added that the authority has set rules focusing on buildings and administrative projects that generate income.
The Sovereign Fund is the investment arm of the state; it aims to promote investment opportunities available in Egypt, focusing on implementing the state’s strategy to work to attract investments from the Egyptian and foreign private sectors.
The choice of currency in evaluating the shares to be sold is considered an obstacle in Egypt's attempt to secure foreign currencies to support the economy, which was harmed by the Russian invasion of Ukraine.
The AGO added also it would unfreeze about CHF 400 million (more than $424 million).
Gamal Mubarak said in the statement that the family has already received a “substantial payment” from the EU Council to refund legal costs, adding that he is expecting to get more funds.
Those whose assets were confiscated include imprisoned leader Khairt El Shater’s two sisters, and fugitive leader Mohamed Ghazlan’s six sons.
In a report on financial stability released on Thursday, the CBE said that non-performing loans declined to register 3.6 percent in December 2020, compared to 4.2 percent in December 2019.
On March 12, 2021, the EU Council “decided to revoke the EU framework for sanctions against persons identified as responsible for the misappropriation of Egyptian state funds, and, to that effect, to lift the restrictive measures currently in force against nine Egyptian individuals.”
Agroup of investors was financing the Muslim Brotherhood’s assets while others, who do not belong to the banned group, were running the group’s investments in exchange for sharing profits.
The Egyptian banks' assets and reserves abroad returned to their previous record levels, a matter which reflects the success of the monetary policy.
The Minister of Agriculture updated Madbouli on a project aimed to utilize untapped areas and water resources in fish farming via technology to achieve the highest rates of production.
The meetings were held in this framework to work to solve any obstacles that may face investors in those areas.
Co-CEO of CI Capital added that the company's financial services portfolio in 2019 amounted to LE 10 billion, compared to LE 7.8 billion in 2018.
A joint statement issued by the French interior ministry, finance ministry and foreign ministry added that France would discuss putting Masood Azhar on a European Union list of people suspected of being involved in terrorism.
It applies to 1,589 individual MB members, 118 companies, 1,133 NGOs, 104 schools, 69 hospitals and 33 websites
The Illicit Gains Authority repaid during the last three years more than 99 percent of the dues of 3,454 individuals, who have been defrauded by six money investment companies.
Abu Dhabi’s state investor Mubadala Investment Co on Sunday reported an 11.5 percent rise in operating income in 2017.
A presidential decree will be issued in May with the names of members of the new judicial committee assigned to confiscate terrorist groups' assets.
The assets allocated 8.24 percent of total deposits in the banking system in all currencies, which amounted to LE 2.49 trillion.
Establishing a sovereign wealth fund to manage state assets aims to contribute to the sustainable development and optimal use of public resources.
