Egyptian authorities have been conducting intensive campaigns in recent days to crack down on the black market mafia involved in the dollar, gold, and essential commodities. Egyptian President Abdel Fattah el-Sisi has approved a law that allows for the referral of the black market mafia and those involved in the hoarding and monopolization of essential goods to military courts.
Sisi enacted Law No. 3 of 2024 presented by the government concerning the security and protection of public and vital facilities in the state, following the approval of the House of Representatives. One of the provisions of the law mandates cooperation between judicial officers of the armed forces in all legally prescribed procedures for police judicial officers to confront actions or infringements that could disrupt the functioning of public and vital facilities in the state, or the services they provide, and crimes that negatively impact the community's basic needs for goods and subsidized products. This aims to safeguard the fundamental components of the state and the rights of the citizens or the necessities of national security.
The law states that crimes committed against public and vital facilities and services governed by this law will fall under the jurisdiction of military courts.
In recent days, Egyptian authorities have intensified campaigns to seize the black market mafia involved in the dollar, gold, and essential and strategic commodities, particularly those implicated in withholding goods from the market to inflate prices. The campaigns have resulted in the seizure of 1,387 cases of hoarding various subsidized goods in just the last 24 hours, including approximately 1,060 tons of subsidized goods, 164,000 liters of petroleum products, and 3,000 cigarette packs.
Previously, Egyptian security agencies managed to apprehend no less than 7,000 cases of hoarding various subsidized goods, petroleum products, and hundreds of thousands of cigarette packs. Egyptian authorities have dealt significant blows to the gold and foreign currency mafia in an effort to eliminate the black market for the dollar. Investigations are underway with those implicated to identify major players controlling the market and setting prices, in preparation for prosecution and referral to trial.
