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Egyptians May Move Funds to Switzerland, Banker Says

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Egypt’s rich are considering taking money out of the country as violent protests against President Hosni Mubarak enter a 10th day, and Switzerland is a popular destination, a Swiss-based Arab banker said today.

“We’ve been getting inquiries about moving money” from Egypt to the Alpine nation, said Karim al-Korey, an associate director at Arab Bank (Switzerland) Ltd. “I have two or three clients who could transfer 10 to 15 million dollars each.”