Recuperating stolen assets: practical suggestions for Egypt

A panel discussion held today by Transparency International (TI), the global anti-corruption organisation, has called on the Egyptian government to be more transparent in its efforts to recover stolen assets and cooperate with civil society.

The event, which was opened with a statement by the Minister of Justice, included:

• Jeremy Carver, board member of Transparency International and legal expert, William Bourdon, Director of French CSO SHERPA, a world renowned expert on asset recovery,
• Dr. Salwa Elantary, formerly Research General Manager, National Bank of Egypt,
• Dr. Hossam Issa, law professor at Ain Shams and head of Asset Recuperation Committee, and
• Omnia Hussein, Programme Coordinator Middle East and North Africa, Transparency International.

The session, which was moderated by senior TV anchor Shahira Amin, was attended by representatives from government, judiciary, academia and civil society.

The panel ended with a call on the Egyptian government to show political will to investigate and recover assets stolen by corrupt leaders and officials. Further, the government should work with international organisations that offer technical support for recovering assets that have been moved abroad, and, above all, act quickly so that stolen assets are not laundered in jurisdictions that will require more complicated steps before cooperating with investigators.

Civil society can help the Egyptian government with asset recovery. The Egyptian Ministry of Justice Legal Committee for Asset Recovery should include civil society representatives. The committee must operate transparently, and the results of its investigations should be made publicly available.

It was also agreed to call on the government to permit civil suits to be brought in national courts by civil society groups.

Transparency International is the global civil society organisation leading the fight against corruption.

This press release is also available in Arabic: كيفية استرداد الأصول المنهوبة