Bibliotheca Alexandrina administrators have entered into negotiations with Central Bank of Egypt officials to release the funds of former first lady Suzanne Mubarak at the National Bank of Egypt’s branch in Heliopolis. The funds amount to US$145 million.
The negotiations, led by Ismail Serageldin, the head of the library, seek to transfer the amount to the Bibliotheca’s private account, sources from the Central Bank of Egypt said.
The same source said Serageldin bases his demand on a report filed by MP Mostafa Bakry that led to freezing the funds, and investigations that proved the fund consists of grants intended for the library.
In March 2011, Serageldin provided testimony in investigations led by the Illicit Gains Authority, after Bakry filed the report against Mubarak’s family, accusing the former president of authorizing his wife to withdraw from the library’s account.
The source said the Central Bank expressed reservations over the possibility of transferring the funds from Suzanne Mubarak’s account to the library’s after the attorney general ordered the account frozen.
The Central Bank said it is not authorized to release any frozen funds, adding that Serageldin was not aware of the presence of these funds, as proven in investigations conducted by the Illicit Gains Authority.
Meanwhile, Hesham Okasha, deputy chairman of the National Bank of Egypt, said the $145 million remains frozen, and added that this amount would not be released until allowed by the attorney general and the head of the central bank.
Okasha said the bank is not a party to these ongoing negotiations.
Translated from Al-Masry Al-Youm
