Government freezes Brotherhood-affiliated assets

CAIRO – 17 August 2017: Government’s Committee to manage funds of Muslim Brotherhood group, headed by Mohamed Aboul Fotouh, froze the assets of sixteen entities affiliated to the outlawed group on Thursday August 17.

The new decision includes the asset freeze of six sons of Egyptian Islamic theologian Youssef al-Qaradawi, owners of Cairo Gate Publishing & Distribution Company, and the Arab International Company for Commercial Agencies. The order includes freezing funds, bank accounts of Egyptian and foreign currencies, deposits, shares, land, and real estates.

The committee also ordered the continued asset freeze of the Business News Company which owns Daily News Egypt and Al-Borsa newspapers. The committee has assigned the Akhbar Al-Youm Investment Company to manage the company.

On 2013, the Egyptian government classified the Muslim Brotherhood a terrorist group and banned its activities.