The Egyptian Parliament، in its plenary session held today Monday، approved in principle a draft law submitted by the government to regulate the procedures for custody، administration and disposal of the funds of the Muslim Brotherhood.
The plenary session also discusses the report issued by the Constitutional and Legislative Affairs Committees and the Defense and National Security Committee on the draft law submitted by the government to regulate the procedures for custody، administration and disposal of the funds of the Muslim Brotherhood (MB).
The draft law regulates the legal procedures for the custody of the funds of terrorist groups under the provisions of the Cairo Court for urgent matters. The draft law states that a judicial committee would be formed to confiscate the funds of terrorist groups in any form and that the committee may appoint experts to manage these funds. The Committee shall consist of seven judges of the Court of Appeal. The names of the seven judges must be included in a decision issued by the President after the approval of the Supreme Judicial Council.
The legislation requires governmental and non-governmental bodies as well as banks to cooperate with the committee and enable its members to review the necessary documents needed in consideration of national security and confidentiality issues.