News

Chairman of Egypt’s Largest Producer of Juices and Dairy Products Has Assets Seized

Chairman of Egypt’s Largest Producer of Juices and Dairy Products Has Assets Seized

juhayna

The committee tasked with managing Muslim Brotherhood funds confiscated on Thursdays the assets of Juhayna’s chairman Safwan Thabet, all except for the food company.

The confiscation decision excluded Juhayna since it is a joint stock company, the committee’s chairman said in a press conference.

Juhayna carries out its activities normally, the committee’s chairman stressed.

Thabet’s shares at Juhayna will be frozen as soon as the stock exchange receives an official letter from the committee regarding the confiscation of his assets, the bourse chairman told the state news agency MENA.

Founded in 1983, Juhayna is considered Egypt’s largest producer of juices and dairy products. It caters to markets across Africa and the Middle East, and it also sells to European and United States markets to a lesser extent.

The committee to assess the Brotherhood’s funds was formed after a decision by an urgent matters court in September 2013, which banned the Brotherhood.

The ruling stipulates banning the activities of any association that is branched from the Brotherhood, that was founded by Brotherhood funds, or that receives any form of support from the Brotherhood.

The committee has so far confiscated the assets of 1345 members of the Brotherhood, its chairman said on Thursday.

Egypt listed the Brotherhood as a terrorist organisation in December 2013 and insists it is behind the wave of militancy which has targeted security personnel since July 2013.

The Brotherhood continuously denies the accusations.

Al-Arabiya News Continues to Plagiarize from Egyptian Streets
Bongo the Orangutan Dies in Giza Zoo from Heatstroke


Subscribe to our newsletter


News
@AswatMasriya_En

Aswat Masriya is a Thomson Reuters Foundation-sponsored website that covers Egypt's transition to democracy. en.aswatmasriya.com

More in News

Egyptian Media Mogul Mohamed El Amin Sentenced to 3 Years for Human Trafficking

Egyptian Streets24 May 2022

Egyptian Superstar Mo Salah Wins Premier League Golden Boot and Playmaker Award

Shereif Barakat22 May 2022

No Cases of Monkeypox Reported in Egypt: Preventive Medicine Sector

Egyptian Streets22 May 2022

Egypt Reaches Water Poverty Stage: Local Development Minister

Shereif Barakat21 May 2022

Egypt Bids Farewell to Veteran Actor Samir Sabry, Aged 85

Egyptian Streets20 May 2022

Central Bank of Egypt Raises Interest Rates by 2%

Marina Makary19 May 2022

Egypt to Open Airport Near Pyramids in July

Shereif Barakat19 May 2022

Egypt’s Vision to Increase Private Sector Investments to 65% in 3 Years

Egyptian Streets16 May 2022