Egypt Independent

Draft law to absolve corrupt investors from criminal liability



The Egyptian government is currently preparing a new law that would absolve investors from any criminal liability with regard to the illegal acquisition of state assets during the time of former President Hosni Mubarak, according to the Egyptian prime minister's media advisor Ahmed al-Samman.

According to Asharq Alawsat newspaper, which is published in London, Samman said the new law would limit criminal responsibility to government officials who broke the law.

He said, "The Egyptian Ministry of Justice began two weeks ago to prepare a new law designed to absolve investors who illegally received land or assets from the state from any criminal liability."

He went on to say, "I think the draft law will be ready and up for discussion soon."

The newspaper pointed out that there were instructions from the cabinet to resolve disputes with all investors, whether Arab, Egyptian or foreign.

The newspaper reported that the settlement with Saudi Prince al-Waleed bin Talal’s company regarding the Toshka land deal was the main reason for the preparation of the law.

Translated from the Arabic Edition