The Juhayna board of directors issued a press release stating that the listing of the company’s CEO Safwan Sabet in the list of terrorists is related to him as a person, and does not include the companies he is associated with. Meanwhile, the Egyptian Exchange has suspended transactions on Juhayna stocks on Wednesday, attributing the decision to the company not notifying the EGX of the ruling. In a press release, the EGX stated that trading on the company’s stocks will remain suspended until the company submits the ruling to them. According to Juhayna’s press release, Sabet was neither notified with the ruling nor learned about accusations, or had even been investigated or interrogated by any government body. Sabet had earlier received a report by the Board of State Commissioners ruling the invalidity of seizing his assets back in 2014.

Source: Daily News Egypt January 18, 2017 15:46 UTC