Page 21 - Issue-30-En

ELITE Vol.1, Issue 30, April 2021 Happy

Ramadan
villages north of Minya. The sums he "Al Saad" took place in the late eighties, but
collected reached nearly a billion and half a this alliance did not hold for a long time in

billion pounds, and people deposited them front of the machinations of commercial banks
for him under the pretext of investing them that incurred bitter losses due to the work of
in Cairo in profitable factories and these companies, and some believe that if

companies with great benefits, and he relied these companies had continued in their work,
on men. Religion in building trust they would have achieved more successes, and

relationships between him and the people so everyone would have benefited from them,
that all depositors felt the truth of his matter their intelligence and their genius in investing

and went to claim their right and found that money and another aspect goes that the
he had collected money and abandoned the Egyptian state is the one who wanted Their

country, leaving behind the anger of the fall due to the increase in their influence, so in
depositors who began to demand the state for the year 1988 AD, it enacted a law that
their right and recover their money, but to no legalized the work of these companies until

avail. they led to the closure and disappeared for a
Perhaps the "money-placement companies" short period and then returned to the surface

in wishes, headed by "Al-Rayyan" and "Al- again.
Saad", were the focus of everyone's attention And some experts see that "Money-

and an example of fraud and theft for our placement" as a phenomenon that can be used
time due to their end that eliminated the as an alternative source for banks by providing

dreams of thousands of depositors who did safe sources for investment and not leaving the
not obtain their rights, and their appearance matter in the hands of banks alone, and that
in society has been linked. In the absence of the root of the problem lies in the banks'

laws regulating the process of employing lowering of the interest rate, which is not
money, these companies have increased their attractive to people, and the solution lies in

influence and control over the money of establishing expert houses Legal protection
many people to the point of lending countries brings together the owners of ideas and

and dealing with international organizations money.
such as the International Monetary Fund, and Despite the painful past of this phenomenon

their wealth reached billions, and their that everyone knows and has experienced
institutions and companies spread throughout many bitter, we cannot be certain that this
Egypt. And they had close relations with phenomenon will not recur in the future and

leaders of the Egyptian government at this that people will not sell their trust and money
time, and they enjoyed popularity and a share to the illusion again, and it is easy to predict

of confidence in the hearts of Egyptians that that another "Mystriah" and "Ryyan" will
no one had achieved before. A merger appear to us in the future because the truth is

between the two companies "Al Rayan" and . that greed always finds its way to the abyss.
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