The Association of Businessmen and Investors today were put on the list of agencies and organizations accused of receiving funds from abroad. The accusations became particularly intense against civil society organizations after the January 25 Revolution. The Union had not received any funds or grants from international or regional institutions, and the EU is a non-profit organization, said Muharram Hilal, the chief executive of the Federation of Egyptian Investor Society. The Union is an association licensed by civilians for the work of investors and industrialists, said Hilal. “The Union is subject to the control and supervision of the Ministry of Solidarity and Social Justice,” he said, adding that it allows them to control the sources of financing and oversees the means of such financing. The Union relies on funding from its own members and from its investors, Hilal said. The Union never received funding or support from outside parties. “The Assembly does not receive any funding from outside whether home or abroad, so as to eliminate outside influence of the Assembly and its positions,” said Mohamed Yousef, the chief executive of the Egyptian Businessmen Association. He added that the Assembly is subject to the control and supervision of the Ministry of Solidarity and Social Justice. There are organizations and associations in Egyptian provinces that require funds from international bodies, like the Business Association in Asyut, which finances small and medium sized enterprises, he added. There are other associations that fund programs with the goal of preserving the environment and others, like the Alexandria Business Association, which plays a major role in providing financing to ambitious citizens.
