European Union representative encourages democratic process in Arab world
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Britain and Switzerland cannot confirm exact amount belonging to former regime members and affiliates, saying investigations still ongoing
Over the course of Hosni Mubarak’s rule, the illicit outflow of funds from Egypt are estimated at $132bn. After the January 2011 Revolution, countries such as Switzerland and the United Kingdom have been asked to freeze and repatriate Egypt’s stolen wealth. However, many legal, political and financial hindrances stand in the way. Daily News Egypt examines these hurdles and the efforts the Egyptian and foreign governments have exerted in order to recover these lost assets.
The draft aims to coordinate efforts to restore money smuggled abroad
The recoupment of illicit funds pilfered from the country through the decades of Mubarak led corruption