Ex-interior minister Habib El Adly was convicted on Thursday of charges of unintentional “abuse of public funds” and fined EGP 500 (USD 29) by an Egyptian court, Reuters reports. The size of the fine has generated some controversy, especially as the former head of the ministry’s Central Administration of Finances and Budget Nabil Khalaf received a three-year prison sentence and a EGP 61.1 mn fine, and was ordered to pay back another EGP 62.1 mn (USD 3.6 mn). Thursday’s verdict cleared Adly of embezzlement and illegal seizure of funds.
More from Enterprise
Our friends at EFG Hermes and Beltone pick up fresh accolades, along with CIB
EFG Hermes retained the top corporate access spot on Extel’s…
Granite is about to test whether Egypt’s funds still need administrators
The asset manager and blockchain builder Tarmiiz have entered the…
Inside the retail wave reshaping EGX
Individuals are setting EGX prices day to day, trading on…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…