HSBC accused of helping Egyptian generals

The global bank is helping the military to stifle dissent in Egypt say campaigners…


Protester holds Field Marshal Tantawi poster © lilianwagdy


Democracy and social justice campaigners in Egypt say that HSBC bank is colluding with the Egyptian military generals currently running the country, in order to intimidate them and stifle their legitimate activities.

A range of NGOs and human rights groups say the global banking giant has been contacting them over the last two months, requesting information and documents relating to their work and activities in Egypt.

Nawla Darwiche of the New Women Foundation, says the group was asked to provide a list of all planned future projects:

They also said they could release our accounts to the government if they were asked,

This is very serious.

The suggestion is that the military, increasingly at odds with the revolution that overthrew Hosni Mubarak, are using such channels to stifle attempts to investigate military abuses and related issues.

Omnia Samra, HSBC Bank Egypt’s head of communications, said the bank had an obligation to reply to the Central Bank of Egypt (also accused) “on a wide range of queries”, adding:

We are not in a position to advise the nature of such queries to third parties,

Read more at The Independent