CAIRO: After the issuance of the law regulating the country’s upcoming presidential elections by interim President Adly Mansour on Saturday and with the start of the electoral campaigns for presidential candidates approaching, the funding sources of these campaigns have become the center of interest.
Hamdeen Sabbahi‘s campaign relies on self-financing by contributions of campaign members as well as popular donations, member of the campaign to support the Sabbahi, Emad Hamdy told the Cairo Post on Sunday.
The presidential elections law allows presidential candidates to receive donations in cash, he explained, adding that Sabbahi is committed to open an account in a bank specified by the Supreme Electoral Committee to deposit what he receives from donations.
Kammel Gemeelak, the campaign that aims to persuade Field Marshal Abdel Fatah al-Sisi to run for president, is self-financed by members’ donations, spokesperson of the campaign Abdel Nabi Abdel Sattar told Youm7.
Some members of former President Hosni Mubarak’s National Democratic Party offered to donate money to the campaign, but their request was rejected by all members, Abdel Sattar added.
The new law determines that 20 million EGP ($2.87 million) is the limit for presidential campaign funding in the first round and 5 million EGP for the possible runoff. The 2012 elections’ budget was set at maximum of 10 million EGP for the first round and two million EGP for the runoff.
The law further states that the Central Auditing Organization will be responsible for reviewing the accounts of the campaigns to submit a report to the Supreme Electoral Committee.
According to article 18 of the law, electoral campaigns can launch at the date the final list of candidates is announced and have to end two days before the date the voting process starts.
Campaigns are prohibited from receiving any foreign contributions or support.
According to article 24 of the law, the campaigns are prohibited from receiving contributions or support of an Egyptian or foreign legal person, from any foreign country or entity, from any international organization or any entity which capital is contributed to a foreigner, or from any foreign person.