The Central Bank of Egypt (CBE) cleared former President Mubarak of allegations he seized US$9 billion in grants from the Gulf States and deposited the money in his personal bank account.
Public Funds Prosecution on Wednesday received a report from CBE about the account, judicial sources told Al-Masry Al-Youm on Wednesday.
The report stressed that the money was banked and owned by the Egyptian government and that the government had spent from the account with Mubarak’s consent. The report ruled out any suspicion of squandering public funds in this case.
The report stated that Mubarak gave instructions not to withdraw from this money without his consent. It also said this account was created more than 10 years ago with the knowledge of the Finance Ministry, but not under its control.
Public Funds Prosecution is currently examining documents submitted by CBE. However, the sources said that the reports and documents do not indicate that the money was seized.
Attorney General Abdel Meguid Mahmoud had demanded from CBE governor Farouq al-Oqda information about Mubarak’s supposed secret bank accounts in the CBE containing $9 billion. The money was purported to be donations granted to Egypt following the Gulf War between the years 1990 and 1992.
In an earlier report, CBE said that in 1990, Mubarak ordered that the account refrain from disbursing money unless he gave direct instructions. This order was enforced until his resignation on 11 February 2011. The bank then revoked his privileges the following day. CBE said that no money has been disbursed from it since then.
Translated from Al-Masry Al-Youm
