Giza Criminal Court on Saturday accepted prosecution’s appeal against a decision to release Muslim Brotherhood (MB) business mogul Hassan Malek on bail of LE20,000. The court ordered Malek and other suspects be detained again for 45 days pending investigations into charges of damaging the national security and economy. The businessman is accused of being behind the recent currency market crisis that apparently forced Central Bank of Egypt (CBE) governor Hisham Ramez to be replaced in October 2016. The National Security Agency said Malek, along with other suspects, had agreed with an exchange office in Cairo to extensively buy and withhold US dollars to induce a foreign currency crisis. The lawyer of Malek called for the release of the defendant, citing the fact that his client has been detained pending investigation for two years.

Source: Egypt Independent May 06, 2017 12:56 UTC