EgyptMiddle East

Paper: ‘Sovereign’ meeting held to decide on financial corruption reconciliation bill

Egypt's sovereign ministries, including defense, interior and foreign ministries, met on Monday during a four-hour closed-door meeting to decide on the financial corruption settlement law and the formation and terms of reference for the National Committee of Experts for Financial Settlment and Reconciliation, daily newspaper Al-Watan reported.
The newspaper said that the Transitional Justice Minister of Ibrahim al-Heneidy held a meeting Sunday evening with the General Intelligence and the National Security Agency to discuss the draft law. 
It added the draft law will be submitted to the president and the Cabinet in few days.
The draft law states that the committee will include executive president of the General Authority for Investment and Free Zones, Chairman of the Capital Market Authority, chairman of the Egyptian Financial Supervision Authority, the deputy governor of the Central Bank, four university professors, two experts working in the public banks sector, two stock market experts, representative for the Central Auditing Agency, director of the Arab and International Criminal Police Department (Interpol) and a representative of the public funds police. 
The committee is concerned with the settlement and reconciliation with an accused or convicted person in the case of financial crimes.
The bill set three months for the committee in order to decide on a reconciliation request. The period could be extended upon the permission of the Cabinet.

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