2 February 2013

Egypt: Switzerland Approves Issuance of a Bill Allowing Egypt to Restore Seized Funds

Chief of the International Cooperation Bureau of the Public Prosecution Counselor Kamel Girgis said, at a press conference on Saturday 02/02/2013, that Switzerland has approved the idea proposed by the Egyptian authorities on outlining a bill allowing Egypt to restore its seized funds with the Swiss banks reaching more than 700 million Swiss francs.

Counselor Girgis pointed out that after the passing of the bill, the Swiss government will be obliged to refund the money to Egypt without the need to resort tothe complicated administrative and legal procedures to prove Egypt's right tothose funds.

He said that this proposal made by the EgyptianProsecution comes in accordance with the Swiss constitution,which allows issuanceof urgent legislations.

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