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Egypt’s mafia fund

By Farah Halime A private equity fund launched by Gamal Mubarak managed to reel in millions of dollars of investment from Egypt’s elite, revealing the depths to which political and business connections ran as he began rising in stature in the late 1990s. According to a document obtained by Rebel Economy, Gamal Mubarak’s $54m Horus I Fund, …

Daily News Egypt

Egypt’s secret Swiss bank

By Farah Halime Nestled in the heart of downtown Cairo is the opulent headquarters of Arab International Bank, a secretive bank that has allowed kleptocrats to funnel money out of the country for decades with barely any regulatory oversight. The bank, established in 1974 by a treaty signed by Egypt, Libya, Qatar, Oman and the UAE, is exempt …

Daily News Egypt

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