Egyptian pound extends gains against USD by midday trade    Egypt–G7 trade hits $29.7b in '24 – CAPMAS    Egypt issues nearly 20 million digital treatment approvals as health insurance digitalisation accelerates    Pakistan FM warns against fake news, details Iran-Israel de-escalation role    Russia seeks mediator role in Mideast, balancing Iran and Israel ties    LTRA, Rehla Rides forge public–private partnership for smart transport    Egyptian government reviews ICON's development plan for 7 state-owned hotels    Divisions on show as G7 tackles Israel-Iran, Russia-Ukraine wars    Egyptian government, Elsewedy discuss expanding cooperation in petroleum, mining sectors    Electricity Minister discusses enhanced energy cooperation with EIB, EU delegations    Egypt, IFC explore new investment avenues    EHA, Konecta explore strategic partnership in digital transformation, smart healthcare    Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt nuclear authority: No radiation rise amid regional unrest    Grand Egyptian Museum opening delayed to Q4    Egypt delays Grand Museum opening to Q4 amid regional tensions    Egypt slams Israeli strike on Iran, warns of regional chaos    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's EDA joins high-level Africa-Europe medicines regulatory talks    US Senate clears over $3b in arms sales to Qatar, UAE    Egypt discusses urgent population, development plan with WB    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt, Serbia explore cultural cooperation in heritage, tourism    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Egypt launches "Memory of the City" app to document urban history    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    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.