Administrative Court delays hearing in the USD 4 billion donation - TopicsExpress

Administrative Court delays hearing in the USD 4 billion donation to Egypt The Administrative Court postponed until Sept 5 the hearing on a petition filed by a Attorney to suspend the implementation of the decision of the Cabinet to donate $4 billion to Egypt, pending the submission of required documents from the Fatwa and Legislation Department. The attorney said newspapers reported on July 11, 2013 that the Cabinet approved $4 billion donation to Egypt - $2 billion to be deposited in the Egyptian Central Bank, $1 billion in cash and oil, and $1 billion oil derivatives. He pointed out the decision might deplete the nation’s coffers; hence, the need to exercise his constitutional and legal right to protect public funds. According to the attorney, the country has been assisting other nations in various ways, such as granting loans, investments and through law number 25/1974 on the Kuwait Fund for Arab Economic Development. Courtesy: Arabtimesonline

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