December 24, 2013 10:06 AM

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Egypt Central bank freezes accounts of over 1000 NGOs

The Central Bank of Egypt has frozen the bank accounts of 1,055 non-governmental organizations following a decision by the Cairo Court for Urgent Matters. According to reports, some of the NGOs are linked to the Muslim Brotherhood. The reason for freezing the accounts and the value of the frozen funds has not been announced. The authorities have launched a crackdown on Islamists since Mohamed Morsi's removal on 3 July. The Cairo Court for Urgent Matters had banned all Brotherhood activities on September 23. The court also ordered the seizure of the group's funds and setting up of a panel to administer the frozen assets until appeals are held.

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