Egypt partners with Google to promote 'unmatched diversity' tourism campaign    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Taiwan GDP surges on tech demand    World Bank: Global commodity prices to fall 17% by '26    Germany among EU's priciest labour markets – official data    UNFPA Egypt, Bayer sign agreement to promote reproductive health    Egypt to boost marine protection with new tech partnership    France's harmonised inflation eases slightly in April    Eygpt's El-Sherbiny directs new cities to brace for adverse weather    CBE governor meets Beijing delegation to discuss economic, financial cooperation    Egypt's investment authority GAFI hosts forum with China to link business, innovation leaders    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's Gypto Pharma, US Dawa Pharmaceuticals sign strategic alliance    Egypt's Foreign Minister calls new Somali counterpart, reaffirms support    "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event    Egypt's Al-Sisi, Angola's Lourenço discuss ties, African security in Cairo talks    Egypt's Al-Mashat urges lower borrowing costs, more debt swaps at UN forum    Two new recycling projects launched in Egypt with EGP 1.7bn investment    Egypt's ambassador to Palestine congratulates Al-Sheikh on new senior state role    Egypt pleads before ICJ over Israel's obligations in occupied Palestine    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10    Egypt's Ministry of Health launches trachoma elimination campaign in 7 governorates    EHA explores strategic partnership with Türkiye's Modest Group    Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers    Fourth Cairo Photo Week set for May, expanding across 14 Downtown locations    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Ancient military commander's tomb unearthed in Ismailia    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Egypt to host global celebration for Grand Egyptian Museum opening on July 3    Ancient Egyptian royal tomb unearthed in Sohag    Egypt hosts World Aquatics Open Water Swimming World Cup in Somabay for 3rd consecutive year    Egyptian Minister praises Nile Basin consultations, voices GERD concerns    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt PM dismisses Atef Ebeid from AIB chairmanship
Prime Minister Essam Sharaf has dismissed former Prime Minister Ebeid from a bank chairmanship following allegations of systematic corruption
Salma Hussein Published in Ahram Online on 07 - 04 - 2011

Egyptian Prime Minister Essam Sharaf has dismissed former Prime Minister Atef Ebeid from his position as chairman of Arab InternationalBank on charges of corruption related to the Mubarak regime.
The former prime minister is accused of selling public assets at below value prices. His assets are currently frozen. He was close to Mubarak and was his economic advisor for many years.Mubarak named him, after he left the cabinet, as chairman of the Arab International Bank where he was paid a monthly salary of "no more than LE300,000", according to Ebeid.
It is suspected that heavy outflows were transferred from the Arab International Banksince the 25 January popular revolt that lead to the ouster of Mubarak.
Muslim Brothehood lawyer Mahmoud Ismail accuses Ebeid of being implicated in the transfer of funds of "corrupt businessmen and officials" abroad in "unknown and obscure" banking operations.
"No ministers or big businessmen are depositing accounts in the AIB," Ebeid said in his first reaction to the claims in interview withAl-Shorouknewspaper. On the contrary, he said, "Some 90 per cent of [the bank's] balance comes from small depositors."
Ebeid also denied claims that Arab International Bank was being used as a doorway in cash laundering operations, adding "The desire for personal revenge is behind such allegations."
Two years ago, ex-parliament members Abu El-Ezz El-Herreiry and Gamal Zahran demanded Arab International Bank close to halt its corruption."The bank is turning into a giant octopus that is going to swallow public money," El-Harreiry said in an article entitled "A request for terminating the Arab International Bank" published onAl-Youm Al-Sabeawebsite 11 June 2009.

Clic here to read the story from its source.