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Switzerland amends ordinance on Egyptians with connections to Mubarak regime
Bikya Masr Published in Bikya Masr on 06 - 09 - 2012

CAIRO: The Switzerland government has added 31 Egyptian citizens to a new list of persons barred from the country over assets taken during their time as top officials during the Hosni Mubarak regime, the Swiss government said on Thursday.
“The Federal Department of Foreign Affairs (FDFA) has amended the annex to the Ordinance on measures against certain persons from the Arab Republic of Egypt,” a statement from the foreign ministry said.
“The amendment has been made in consultation with the Egyptian authorities and enters into force on 6 September 2012. The annex to the Ordinance now contains the names of 31 natural persons whose assets have been frozen in accordance with the provisions of the Ordinance,” it added.
Following the revolution in Egypt, Switzerland and Egypt have been and remain in regular contact concerning mutual legal assistance with regard to the restitution of any possible illicit assets deposited in Switzerland. Assets amounting to approximately $700 million in Switzerland have been frozen, including assets frozen on the basis of the Federal Council's Ordinance, the penal procedures initiated in Switzerland, and mutual legal assistance.
“To support the work of the Egyptian criminal prosecution authorities, at the latter's request the FDFA has decided to extend the measures stipulated in the Ordinance against certain persons in Egypt to a further 17 natural persons. The annex to the Federal Council's Ordinance has been amended correspondingly. This measure should be seen as part of a series of support measures which Switzerland has adopted to support Egypt in the legal verification procedures concerning the origin of assets,” the Swiss added.
After President Hosni Mubarak resigned at the beginning of 2011 following weeks of mass demonstrations, the Federal Council passed the Ordinance on measures against certain persons from Egypt on February 2, 2011.
The Ordinance provides for the immediate freezing of any assets in Switzerland of the former Egyptian president and his entourage.
“The purpose of this action was to take all necessary measures to facilitate the legal clarification of the origin of the frozen assets by means of mutual legal assistance,” it added.

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