VOL. XLVI

No 3

20-January-2003

EGYPT

Egypt Arrests Former Bank OfCairo Head On Corruption Charges

The Egyptian authorities have arrested the former managing director of the Bank of Cairo, Muhammad Abu al-Fatah, on charges of providing unguaranteed loan facilities totaling E1.5bn ($322.6mn) to four businessmen who subsequently defaulted. Public Prosecutor Mahir 'Abd al-Wahid has ordered that the three of the businessmen (Rami Lakah, Ramon Lakah and Muhammad Najib) along with Mr Fatah be barred from...