Egypt's Cabinet approves 2 bills on illegal profiteering
Prime Minister Ibrahim Mahlab
Cairo - MENA
The Cabinet, under Prime Minister Ibrahim Mahlab, approved the draft law of illegal profiteering and the establishment of the national panel to recover funds and assets overseas.
The amendment of illegal profiteering law came due to the its inability to achieve the desired goals.
The draft law has set the notion of illegal profiteering, which is generated often through abuse of dominant position or by exploiting.
The second draft law of establishing national panel to recover funds and assets overseas comes as part of retrieving smuggled funds from the former regime figures, who are involved in corruption and illegal profiteering cases.
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