US$6.3 billion transferred out of Egypt in 2010

Funds amounting to US$6.3 billion were transferred out of Egypt in 2010, according to Global Financial Integrity (GFI).

“Egypt is the third Middle Eastern country in terms of nationals transferring their money abroad,” Hashas added, suggesting that the government should seek the help of specialized financial offices in retrieving the money in return for certain commissions.

For his part, Samir Mostafa, director of the Arab Economic Researches Association, said Africa suffers from organized transfer operations through arms deals in particular and other non-traceable transactions.

Translated from the Arabic Edition

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