Featured Egypt

U.S. working to designate Muslim Brotherhood a terrorist group: White House

The Trump administration is working to designate the Muslim Brotherhood a foreign terrorist organization, the White House said on Tuesday, which would bring sanctions against Egypt’s oldest Islamist movement. “The president has consulted with his national security team and leaders in the region who share his concern, and this designation… Read More

African soccer whistleblower fired after accusing boss of corruption

African soccer’s ruling body has fired a senior official after he made corruption accusations against the organization’s president in a potential blow to FIFA’s efforts to clean up the game after a raft of scandals worldwide. The Confederation of African Football (CAF) sacked general secretary Amr Fahmy after the Egyptian… Read More

UK Sanctions Agency Issues First-Ever Fine Against London Bank

The United Kingdom’s sanctions enforcer levied a £5,000 monetary penalty against London-based Raphaels Bank, marking the first time the agency has imposed a fine since its creation in 2016. The Office of Financial Sanctions Implementation (OFSI) imposed the penalty for an unspecified violation of an Egyptian asset freezing order involving a £200… Read More
24th October 2018
Nomura and several of its affiliates have agreed to pay a total of $480 million to settle charges of misleading investors over the sale of residential mortgage-backed securities (“RMBS”) between 2006 and 2007, an issue which resulted in investors suffering ‘significant’ losses and also highlighted the bank’s poor due diligence… Read More
21st September 2018
AP – An Egyptian court on Thursday ordered the release from detention of former president Hosni Mubarak’s two sons, overturning a ruling by another court whose judge surprisingly told police to arrest them and send them to prison. The judge in the Sept. 15 hearing ordered… Read More
15th August 2018
An Egyptian national who handled the finances of a people smuggling gang has been jailed for three years after pleading guilty to money laundering at Birmingham Crown Court. Ahmed Saleh Elsayed Mustafa was arrested by the National Crime Agency in January 2017 as part of a joint operation with… Read More
3rd January 2018
Egypt’s highest Islamic religious leader is now weighing in on the legitimacy of cryptocurrency trading. Shawki Allam, the current Grand Mufti of Egypt, said on Jan. 1 that cryptocurrency trading is forbidden under Islamic religious law due to the risk associated with the activity, according to Egypt Today. Allam issued… Read More
19th September 2017
Qatari authorities stepped up their support of domestic banks for the third month in a row in August in an attempt to offset foreign withdrawals as the showdown between the Gulf emirate and a Saudi-led alliance show no sign of abating. The Qatari economy is bearing the brunt of the… Read More
16th August 2017
Sanctions imposed by other Arab states are continuing to push up food prices in Qatar while hurting the real estate market, but not to the point of damaging the economy severely, according to inflation figures released by the government. The annual inflation rate fell back in July, after spiking in… Read More
16th August 2017
An American man accused of using fake eBay transactions to receive Islamic State funds for a possible terrorist attack in the U.S. has agreed to plead guilty, according to a court filing. Mohamed Elshinawy, who was living in Maryland when he was arrested in late 2015 on terror-related charges, faces… Read More
31st July 2017
The four Arab states of Saudi Arabia, Egypt, the United Arab Emirates (UAE) and Bahrain are reportedly set to consider fresh economic sanctions on Qatar at a meeting in Manama, Bahrain’s capital. The foreign ministers of the four countries are “expected to impose sanctions that will gradually affect the Qatari… Read More
10th July 2017
The four Arab states leading the boycott against Qatar said late on Thursday that Doha’s refusal of their demands was proof of its links to terrorist groups and that they would enact new measures against it. Saudi Arabia, the United Arab Emirates, Egypt and Bahrain released a joint statement carried… Read More
6th July 2017
President Trump encouraged Egyptian President Abdel Fattah el-Sissi to uphold United Nations Security Council resolutions against North Korea and to stop welcoming North Korean guest workers in Egypt, the White House said on Wednesday. Trump called el-Sissi from Air Force One, where he and the first lady were en route… Read More