The customs authority has seen huge sums of money carried through the Rafah border into the Palestinian Authorities.  Palestinian FM Mahmoud el Zahhar has moved 20 million dollars in suitcases via Raf...

The customs authority has seen huge sums of money carried through the Rafah border into the Palestinian Authorities.  Palestinian FM Mahmoud el Zahhar has moved 20 million dollars in suitcases via Rafah, the Palestinian Information Minister has also moved 2 million dollars into the territories and those have been preceded by others from the Palestinian legal council who have used their diplomatic immunity to move 4.5 million euros into the territories. Head of the Customs Authority Mohamed Abul Fottouh explained the position of the Authority in this respect saying that the Palestinian FM has made a written statement of the funds and has explained that the money has come from Iran to support the Palestinian Authority. Abul Fottouh said that the Palestinian official has made the statement in writing as he has been told that his suitcases will be checked by X rays.  El Zahhar consequently succumbed to a written statement which absolved him from being penalized or the money confiscated; so have all other Palestinian Authority employees.  Law no 88/2003 has disciplined the regulations on money transfer in or out of the country and it stipulates the right of individuals to transfer funds provided that sums exceeding $ 10,000 or their equivalent in other foreign currencies must be declared; whereas  travelers will declare  Egyptian currency in excess of about LE 5000.  Cash however may not enter the country through letters or postal packages. Abul Fottouh explained that passengers who violate the codes will be punishable by a three month prison sentence and/or a fine ranging from LE 5000-LE 20,000 as well as confiscation of the amounts that have not been declared. (source: ministry of finance)