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EFG-Hermes confirms CEO travel ban, denies Port Said link
Investment bank says ban on Yasser El-Mallawany is 'precaution' and not related to allegations of inciting last week's football violence
Ahram Online Published in Ahram Online on 07 - 02 - 2012

Egypt's EFG-Hermes has confirmed its chief executive Yasser El-Mallawany is banned from travelling by the country's authorities, but denies the ban has any connection to last week's football disaster in Port Said.
In a statement to Ahram Online, the investment bank said that no charges have been laid against El-Mallawany and that it has been informed the ban was issued as a precautionary measure.
Similar restrictions have been placed on other business heads in Egypt over the last 12 months, the statement added.
El-Mallawany was prevented from travelling to the United Arab Emirates on Sunday after Egyptian authorities found his name on a list of officials banned from leaving the country.
A Justice Ministry official told AP on Sunday that El-Mallawany and Gamal Omar, a close friend of ousted President Hosni Mubarak's son, Gamal, were being investigated for allegedly paying thugs to attack revolutionary youth after a soccer match in the Egyptian city of Port Said.
In a riot there last Wednesday, 74 people were killed.
EFG-Hermes will continue to "to proactively release pertinent information on this issue in a timely manner, as is required by disclosure regulations of the Egyptian Exchange", the statement concluded.

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