Egypt Daily News – The British newspaper “The Eye” reported that former Syrian President Bashar al-Assad hid funds in Britain estimated at 163 million pounds, amid demands to hand this money over to the new Syrian government.
The newspaper said that Assad maintains a personal fund worth more than 55 million pounds sterling in a bank account with HSBC Bank in London.
Banking sources indicated that this account is part of funds amounting to 163 million pounds sterling deposited in British bank accounts belonging to Assad, his family, and his close allies.
It added that the disclosure of these funds sparked widespread controversy, with mounting calls from prominent political figures and human rights organizations demanding that the British government confiscate the deposited funds.
The newspaper confirmed that judicial documents from 2011 showed that Al-Assad had about 40 million pounds sterling in his account at HSBC Bank, and although this money was frozen under the sanctions, it continued to generate interest to reach its current value, which exceeds 55 million pounds sterling.
The British authorities also collected 150,000 pounds in fines from companies that violated the sanctions regime imposed against Syria, according to the newspaper.
Prominent politicians, including former Conservative Party leader Sir Iain Duncan Smith, called for the use of the 2002 “Proceeds of Crime” Act to confiscate this money and return it to the Syrian people, on the condition that a new, legitimate government is formed.
Priti Patel, the Conservatives’ shadow foreign secretary, said: “Assad and his cronies should not be able to benefit from these funds while they live in exile in Russia.”
The newspaper also reported that the assets of Rifaat al-Assad, Bashar al-Assad’s uncle, who owns a house in London’s Mayfair district whose value is estimated at about 26 million pounds, have been frozen.
Human rights organizations condemned the continued freezing of funds without using them to support the Syrian people. Razan Rashidi, executive director of the Syria Campaign, said: “This money is a right for Syrians and was collected at the expense of the lives of many.”
Chris Doyle, director of the Council for Arab-British Understanding, added: “This money should be transferred to a legitimate and transparent Syrian government in the future.”
Despite the increasing demands, British law currently lacks a mechanism that allows these funds to be transferred directly to the victims of the Syrian regime.
HSBC Bank refused to comment on its relations with its customers, stressing its commitment to all applicable sanctions and laws, while the British government refrained from providing any official comment on the case, according to what the newspaper reported.
