1 February 2013

Egypt: Switzerland Drafts Law Allowing Egypt to Recover Stolen Funds

Swiss authorities have responded to Egypt's request to recover smuggled funds by drafting a law that enables Egypt to retrieve these funds, Hassan Yassin, spokesman of the public prosecution and head of its media office, said on Friday.

Switzerland's authorities are currently drafting a law that would allow Egypt to overcome a Swiss fereral court ruling that rejected Egypt's request to recover its stolen funds, Yassin said in a statement reported by the state news agency MENA.

This move "comes in light of Egypt's right to retrieve its smuggled funds", Yassin stated.

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