Sawiris Denies Any Financial Dealings With Palestinian Officials

Egyptian Business tycoon Naguib Sawiris denied any financial dealing with Mohammed Rashid, the advisor of late Palestinian President Yasser Arafat in his personal capacity.

Rashid was the manager of Palestine Investment Fund (PIF) that undertook investments with Orascom for two and a half years. Yet, the contract between PIF and Orascom ended several years ago.

Sawiris added in a press statement that he does not have any financial dealing with Mohammed Dahlan, a leading figure in Fatah Movement.

Press news was issued Monday that Public Prosecutor in the West Bank Ahmed Al-Moghni requested on behalf of the Palestinian Authority business tycoon Naguib Sawiris to suspend trading on the shares owned in Orascom Telecom Holding (OTH) (ORTE.CA) by Mohammed Rashid, the advisor of late President Yasser Arafat, as well as Mohammed Dahlan, a leading figure in Fatah Movement.

In a letter sent to Sawiris, Al-Moghni said that his request is based on a ruling issued by anti—corruption court, dated June 7, 2012, in case No. 2012/13.