Egypt’s Public Prosecution transfers 1.2 tons of confiscated silver to finance ministry

Egypt’s Public Prosecution has converted confiscated silver into bullion and transferred more than 1.2 tons to the Ministry of Finance, it said in a statement on Wednesday.

Prosecutor General Mohamed Shawky announced the move during a ceremony at the Office of the Prosecutor General late Tuesday, attended by Cabinet ministers and senior officials.

Shawky said the Public Prosecution has expanded its role in managing confiscated assets beyond its judicial mandate.

“The Public Prosecution has adopted a governance-based approach to managing high-value seized assets, aimed at turning them from idle holdings into economically useful resources,” Shawky said.

He said earlier phases of the programme included transferring gold bullion to the Central Bank of Egypt (CBE).

He added that the latest phase involved converting confiscated silver into bullion and transferring more than 1.2 tons to the Ministry of Finance.

The initiative is part of broader efforts to improve the management of seized assets and increase returns from confiscated resources, the statement said.

Attribution: Amwal Al Ghad English