A researcher in political Islam reveals the Brotherhood’s evasions to conceal their sources of funding… Details
The secrets of the Brotherhood‘s funding have led many experts to scrutinize them, given the importance of the group’s wealth in promoting its intellectual arguments and operations. Tarek Abu El-Saad, a specialist researcher in political Islam, confirmed that Hassan al-Banna founded the Brotherhood in 1928 and went through several stages, ensuring that he received donations from individuals for political purposes or purposes that would later become apparent.
During his statements on the “Other Side” program broadcasted on “Al-Qahira Al-Youm” TV channel, he added that the undisclosed agreement within the group involved building schools, which Hassan el-Banna oversaw in Ismailia. His letters to his brother indicated that these funds exceeded his financial capacity.
He continued that when al-Banna moved to Cairo, he began operating financial and printing companies and an advertising agency. His personal secretary, Mahmoud Assaf, managed them, establishing quarry companies and garment companies whose profits returned to the Brotherhood again.
He also pointed out that during the sixties, the organization relied on Brotherhood members abroad, who laundered money through remittances to spend on their leaderships’ families. They established foreign companies, led by Youssef Nada, including companies for money recruitment and cars. Here began the establishment of Brotherhood funds outside the framework of the Egyptian state.
Security and intelligence reports confirmed that a significant portion of the Muslim Brotherhood‘s activities were established as “Offshore” companies through local investment funds in Liechtenstein, on the Swiss-Austrian border. There is no need to identify the owners of these companies, and there are no records of the company’s activities and transactions
