Marketing-Börse PLUS - Fachbeiträge zu Marketing und Digitalisierung
print logo

Egypt seizes Brotherhood-linked Seoudi and Zad

A committee formed in accordance with a court ruling decided to seize Zad and Seoudi, owned by Khairat al-Shater and Abdel Rahman Seoudi.
16.06.14 | Source: Business Standard

Egyptian authorities seized today two retail outlets owned by leaders of the Muslim Brotherhood, which has faced a relentless crackdown since the ouster of Islamist president Mohamed Morsi last year.

The businesses targeted were the Seoudi supermarket chain and Zad department store, respectively owned by Abdel Rahman Seoudi and Khairat al-Shater -- both leaders of the blacklisted Brotherhood.

"Security forces are implementing the law," Cairo's police chief, Brigadier General Ali al-Demerdash, said in relation to the moves.

"A committee formed in accordance with a court ruling decided to seize Zad, which is owned by Khairat al-Shater, and Seoudi, which is owned by Abdel Rahman Seoudi, because the two leaders are financing the Muslim Brotherhood," he told reporters.

A court in September banned the Muslim Brotherhood from operating and ordered its assets seized. It also prohibited any institution branching out from or belonging to the Islamist movement.

Shater, the Brotherhood's number two who headed its financial affairs, is behind bars and on trial for a range of charges, some of them punishable by death.

FREE NEWSLETTER