Brotherhood detected funds in Egypt amount to $89.6 million: reports
Muslim Brotherhood demonstration - YOUM7 (Archive)

CAIRO: The Muslim Brotherhood owns around 630 million EGP ($89.6 million) in the form of liquid and wired funds, bonds, and stocks, Youm7 reported Thursday.

 The Ministry of Justice formed a committee to inventory the assets of the group’s members in October after Cairo Court for Urgent Matters ruled in September that their properties and funds be frozen.

Sources inside the committee and the Administrative Control Authority told Youm7 that the Brotherhood owns around 80 apartments and villas, as well as lands designated for construction, and others for agricultural reclamation.

Specific families that belong to the Islamist organization own 350 companies, the majority of which operate in the field of construction and furniture. The most notable owners of the companies are the families of deputy of the group’s Supreme Guide Khairat al-Shater, a leading member of the Brotherhood Hassan Malek, and Essam el-Haddad and his son Gehad, respectively the adviser to former President Mohamed Morsi and the spokesperson of the Brotherhood.

Head of the committee Judge Ezzat Khamis told CBC channel on April 5 that the 350 companies are administered by the committee and that their funds have been frozen.

 A total of 1,075 associations, the majority of which are charities, have been identified to have affiliations with the Brotherhood and are now administered by the Ministry of Social Solidarity under the supervision of the committee, MENA quoted the Ministry of Justice press office March 12.

In January, the committee ordered that the assets of the 702 Brotherhood members be frozen, including ousted President Mohamed Morsi’s, the Haddads, and Shater and his daughter Al-Zahraa.

The government declared the Muslim Brotherhood as a “terrorist organization” in November 2013 and the Cairo Court for Urgent Matters ruled that it is a “terrorist organization” in February 2014.

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