3 April 2014

Egypt: Switzerland Extends Smuggled Funds Freeze for Three Years

Minister of Justice Nayer Osman met on Wednesday 2/4/2014 with Swiss Ambassador in Egypt to discuss means of boasting bilateral relations.

During the meeting, the Swiss ambassador said that his country has extended the freezing of smuggled funds for three more years, noting that Switzerland seeks the return of looted funds to its rightful owners.

The ambassador expressed his country's readiness to send subject matter experts to Egypt to help the authorities in this domain.

He added that a new bill will be issued soon to facilitate the procedures of seizure, confiscation, and return of funds.

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