# Hsbc



## MaidenScotland (Jun 6, 2009)

uman rights groups and NGOs have accused HSBC bank of colluding in a campaign of intimidation which they say is being waged against them by Egypt’s ruling military council.

The groups, which hold Egyptian accounts with the global banking giant, say that over the past two months HSBC has contacted them requesting documents and information relating to their finances and work in Egypt.

One NGO worker, the director of an organisation which works to promote democracy around Egypt, said he was called last month by an HSBC bank manager who asked why the group had been receiving money from the American embassy.

“They wanted to know what our activities were,” said Bassem Samir, executive director of the Egyptian Democratic Academy. “It was not clear why they were asking these questions.

This month HSBC also contacted another civil rights group, the New Women Foundation, and asked staff to provide a list of all of their future projects.

“They also said they could release our accounts to the government if they were asked,” said Nawla Darwiche, a founding member of the organisation. “This is very serious.”

It comes at a time of heightened tensions between NGOs and the ruling military council, which took power after former president Hosni Mubarak was toppled in February.

During the summer, Egypt’s Minister of International Co-operation, Faiza Abul-Naga, announced that a commission of inquiry was being established to investigate the funding of civil society organisations.

The results of the investigation were published in an Egyptian newspaper last month, which detailed the funding received by numerous NGOs and also revealed that 39 organisations had been declared illegal – including some of the most respected civil rights groups in Egypt.

Since August there have also been reports in official newspapers accusing some NGOs of treason. State TV has questioned the loyalty of certain groups, while in a recent statement the Justice Minister referred to spies and treachery in a statement about human rights organisations.

Last week the vice-president of the Union of NGOs, the government body which regulates NGOs, told a local newspaper that some employees of Egyptian rights groups could face jail over the issue. It came after the Ministry of Justice submitted information to a Cairo court detailing the foreign funding received by 75 organisations.

But HSBC is not the only target of criticism by activists. Another bank, Egyptian-owned CIB, has also been accused of intimidation.

According to United Group, a firm of Cairo lawyers specialising in human rights, the bank recently contacted lawyers to ask why the firm’s partners had received money from USAID, the US governmental organisation which distributes development cash.

“They asked us to send them copies of the contract we signed with USAID,” said Nigad al-Boraa, a senior partner at the firm. “I told them we were a law office and USAID are one of our clients, and that by legal profession laws we cannot deliver any information to a third party without the consent of our client.”

Following CIB’s inquiry, the bank closed Mr al-Boraa’s personal account along with his sister’s. United Group’s company account was also subsequently closed.

Mr al-Boraa said CIB had told him they were acting at the behest of officials at the money laundering department of the Central Bank of Egypt, which oversees all banking operations in Egypt.

Neither the Central Bank of Egypt nor CIB responded to The Independent’s requests for comment.

HSBC Bank Egypt’s head of communications, Omnia Samra, said that international banks had to respond to the Central Bank of Egypt “on a wide range of queries”.

“We are not in a position to advise the nature of such queries to third parties,” he added.


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## kevinthegulf (Aug 16, 2009)

As much as I dislike HsBc, I suspect that it is very widespread across all the banks.
Free and Fair elections on the horizon...... Oh gosh its these same people who will be in charge of them....
I think its time the rose tinted glasses were removed by a lot people and goverments when they look at this country since the revolution, what worries me is the reaction of the dissapointed people afterwards


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## MaidenScotland (Jun 6, 2009)

kevinthegulf said:


> As much as I dislike HsBc, I suspect that it is very widespread across all the banks.
> Free and Fair elections on the horizon...... Oh gosh its these same people who will be in charge of them....
> I think its time the rose tinted glasses were removed by a lot people and goverments when they look at this country since the revolution, what worries me is the reaction of the dissapointed people afterwards




Personally I think nothing has changed other than we can comment on the health of Mubarak.


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## kevinthegulf (Aug 16, 2009)

I agree, I cannot think of anything that has got better, I wait to be enlightened


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## aykalam (Apr 12, 2010)

It is definitely not just HSBC, all banks in Egypt are under enormous pressure from the powers that be on this subject. 

This from today's AMAY:

"People convicted of receiving illegal foreign funds for NGOs could face up to one year in prison, informed Social Solidarity Ministry sources said Tuesday.

The potential penalties also include fines equivalent to the amount of funds received.

Ministry sources told Al-Masry Al-Youm on 2 November that the ministry is finalizing amendments to NGO Law 48/2002 in order to regulate foreign funding.

The ministry has provided information about registered NGOs to the public prosecution to help with investigations about sources of funding, the same sources said.

The sources also said the ministry will not be able to take any steps until the prosecution finishes its investigations.

Meanwhile, Planning and International Cooperation Minister Fayza Abouelnaga said that 14 American and 12 Egyptian organizations have received US$47.8 million and $5.8 million, respectively, according to information given to the Egyptian government by the US."


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