Egypt’s PM lauds institutional coordination as gold seizures handed to CBE
Prime Minister Moustafa Madbouly on Tuesday praised the Egyptian Public Prosecution for its “deep national role” in managing state resources and supporting the national economy, highlighting the government’s full backing for its efforts.
Speaking at a ceremony marking the handover of seized gold to the Central Bank of Egypt (CBE), Madbouly described the Public Prosecution as “not only a guardian of justice and the rule of law, but also an important economic actor within the state system.”
He said the institution’s handling of seized assets reflects “institutional maturity,” noting that the Public Prosecution treats such assets not as static evidence but as national wealth capable of strengthening the country’s financial reserves and currency stability.
The prime minister highlighted that the handover of 265 kilograms of gold, valued at around 1.650 billion Egyptian pounds ($34 million), demonstrates the practical implementation of Egypt’s resource-management strategy. He noted that the majority of the gold had been refined into high-quality bars for transfer to the central bank, while pieces with historical or financial significance would be auctioned publicly to secure the highest possible returns for the state.
Madbouly emphasised that the success of these efforts depends on institutional coordination across state bodies, including the Cabinet, the CBE, the Ministries of Finance, Interior, Supply, Justice, and the National Service Projects Authority. “This collaborative approach enables the state to protect public funds, maximise national resources, and advance sustainable development,” he said.
The prime minister also cited the Public Prosecution’s previous achievements, including the clearance of long-standing vehicle storage backlogs, the recycling of unfit vehicles, and the conversion of decades-old financial seizures into funds for the state treasury.
Concluding his remarks, Madbouly reaffirmed the government’s support for initiatives that enhance asset management and resource mobilisation, praising the Public Prosecution for its dedication and professionalism.
Attribution: Amwal Al Ghad English