Egypt has transferred 265 kilograms of seized gold to the Central Bank of Egypt (CBE), Prime Minister Mostafa Madbouly announced during a ceremony held at the Office of the Public Prosecutor in New Cairo. According to Madbouly, the gold, valued at nearly EGP 1.65 billion, was refined into high-purity bars before being handed over to the Central Bank, while pieces with historical or collectible value are scheduled to be auctioned.
Madbouly said the move is part of broader state efforts to manage seized assets more efficiently and in line with directives from President Abdel Fattah El-Sisi aimed at supporting the national economy. He noted that the Public Prosecution handled the gold not only as case evidence but as a state resource capable of contributing to Egypt’s gold reserves.
During the event, the Prime Minister highlighted additional asset-management initiatives undertaken by the Public Prosecution in recent months. These include the clearance of vehicle impound lots across the country, where tens of thousands of decisions have been issued to dispose of vehicles eligible for relicensing. Thousands of unfit vehicles have been transferred to the National Service Projects Organization for recycling.
Madbouly also referenced progress in clearing the large impound area in the 15th of May district. The site—measuring 24 feddans and valued at approximately EGP 2.5 billion, is close to being fully vacated and reassigned as a state asset to the Ministry of Housing.
In addition, the Prime Minister pointed to the resolution of a long-standing account at the Central Bank’s Alexandria branch, which held seized foreign currencies for several decades. These assets, estimated at the equivalent of EGP 500 million, were converted into U.S. dollars in coordination with the Central Bank and subsequently transferred to the state treasury.
Madbouly said the handover of the gold was carried out through coordination among multiple institutions, including the Cabinet, the Public Prosecution, the Central Bank, the Ministry of Finance, the Ministry of Interior, the Ministry of Supply, the Ministry of Justice, the National Service Projects Organization, and the General Authority for Government Services.
The Prime Minister stated that the government supports ongoing efforts to improve asset usage and enhance public revenues. He concluded by thanking the Public Prosecutor and other state entities involved in the process.
