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Egypt receives $174 mln on reconciliation with Mubarak figures

Egypt has retrieved $174 million in cash and land from former regime figures, with more reconciliation deals under consideration

Ahram Online, Saturday 16 Feb 2013
Egypt receives $174 mln on reconciliation with Mubarak figures
Amr Assal former chief of Egypt's IDA (Photo: Ahram Arabic News Website)
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Egypt has had returned around $174 million in cash and land after the government reached a reconciliation deal with former ministers and businessmen who served or were prominent under deposed president Hosni Mubarak, reported Al-Ahram's Arabic news site Saturday.

Among the figures that have settled their disputes with the Egyptian government is Amr Assal, former chief of Egypt’s Industrial Development Authority, Mustafa Al-Husseini, attorney general of the Public Funds Prosecution told Al-Ahram.

Al-Husseini added that the Cabinet is currently considering reconciliation with the Dubai-based iconic property group Damac, which will return to the governmen, lands located in Egypt’s new suburbs worth $1.3 billion.

Earlier this month, Minister of Finance El-Morsi Hegazi said that two new bank accounts at the Central Bank of Egypt (CBE) have been opened for retrieved funds, whether from abroad or after reconciliation initiatives.

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