Employees protests against corruption in Egypt Insurance Co.

Tuesday 1 Mar 2011

One employee reveals allocations of millions of funds whose purposes were never fulfilled. Employees demonstrate in front of offices close to Tahrir Square

Several hundreds gather on Tuesday in front of Egypt Insurance Company protesting corruption. The demonstrators chant “where is the press to come and document the corruption?”

Saied Mostafa, a consultant at the company says “we have documents that prove corruption at the company."

For example, he continued "LE300m have been allocated to upgrade computers although not one new computer has been bought; LE175m have been allocated to develop the buildings while the buildings remain the same and LE100m have been allocated to develop Alaa Muabark’s Developing the Future organisation. Three insurance companies, including the Egypt Insurance Company, have merged under one holding company with the sole purpose of facilitating corruption, since there was no other reason.”

Egypt Insurance Company is located in Talaat Harb Street, only meters away from the thousands gathered at Tahrir Square demanding the dissolution of government.

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