Credit Agricole freezes the assets of business tycon Yaseen Mansour

Ahram Online , Monday 7 Mar 2011

The accounts of Yaseen Mansour have been frozen after instructions from the Prosecutor General


Credit Agricole Bank announced that it had frozen the accounts of Palm Hills Chairman Yaseen Mansour after instructions from the Central Bank of Egypt to seize the funds of those implicated by the Prosecutor General.

The bank signalled in a statement that Yaseen Mansour is a non-executive Member of the Board of Directors of the bank as he is a representative of Mansour Group and Maghrabi Investment Company.

The business tycoon’s company owns 19 per cent of the shares of Credit Agricole Egypt, while 66 per cent belongs to Credit Agricole France.

The families of Ibrahim Al-Maghrabi, former minister of housing, and of Mohamed Mansour, former minister of transport, are the main shareholders of Mansour Group and Maghrabi Investment Company.

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