Egypt: Government seizes Muslim Brotherhood affiliated companies

The Egyptian government committee tasked with listing and managing the Muslim Brotherhood’s funds announced yesterday that it has confiscated the assets of money exchange companies allegedly affiliated with the Muslim Brotherhood in 12 governorates, in addition to one company working in the field of electronics and computers and a school.

The committee’s Secretary-General Mohamed Aboul Fotouh said that more than 20 million Egyptian pounds (around $2.5 million) and various foreign currencies were confiscated from the seized companies. He noted that all these companies are owned and run by Muslim Brotherhood members.

The committee seized the electronics company Delta Software and the Sayyeda Aisha School, affiliated with the Al-Kholafaa Al-Rashedoon charity organisation. The school was handed over to the Ministry of Education to manage.

The committee had announced in August that, since it had been formed in January 2014, it had confiscated the assets and funds of 1,345 Muslim Brotherhood leaders and seized assets including 103 schools.

In September 2013, a Cairo court banned the Muslim Brotherhood group and any organisation affiliated to it and ordered the confiscation of all its funds and assets.

In January 2014, the government formed a committee to manage the funds, companies and charities owned by Muslim Brotherhood members. This came after the government had issued a decision labeling the Brotherhood a “terrorist” organisation.

In April 2015, an Egyptian official announced that his government had asked six Western countries to confiscate the funds of 30 Muslim Brotherhood leaders allegedly living abroad. The Anadolu Agency has been informed that the request was denied as it would be “a violation of citizens’ rights.”