The phenomenon of “relaxation” occupied Egyptian public opinion, and discussion of it dominated after the arrest of two people accused of seizing millions of pounds of civilians under the pretext of “making quick profits.”
Not a few hours passed, after the arrest of what was known in the media as “Aswan Rest House”, until social networking sites buzzed with talk of the “New Aswan Rest House”, which raised millions of pounds from citizens before fleeing.
The Egyptian security services managed to capture the “rest” after their escape.
The researcher in the affairs of political and religious movements, Ahmed Al-Khatib, claims that the phenomenon of the “comfortable” is not new in Egyptian society.
He added to Al-Hurra that the “resting” phenomenon is an extension of the money-investing activities that began in Egypt in the late 1970s, and its most prominent symbols were Ahmed Rayan, and the companies of Al-Saad and Al-Sharif.
This type of scammer is called “the well-rested” because of a previous name for a fraudster who appeared in Upper Egypt in 2015 and was known as “Ahmed Al-Mustareeh”.
Al-Mustareeh was convicted of fraud and expropriation of millions of pounds, after which the Egyptian media took this name to describe the “fraudsters”.
The relaxed usually use the bait of “big monthly profits” to collect money from citizens, before escaping after seizing the money of his victims … What are the reasons for the spread of this phenomenon in Egypt?
Said Sadek, professor of political sociology at the American University of Cairo, told Al-Hurra that “the majority of these deceivers are practicing their activities in rural areas, where ignorance spreads among the common people,” pointing out that many rural residents do not trust banks. or see that the benefits of it are ‘haram’ so that they keep their money at home.
The professor of sociology confirmed that fraudsters benefit from this and sell to these simple people while “making halal profits that are higher than those in the bank.”
Sadiq added: “That is why the Egyptian state at the time used financial inclusion campaigns to entice citizens to join the banks.”
In turn, an economics researcher, Walid Farouk, told Al-Hurra that the reason for the spread of the phenomenon is the lack of awareness among citizens, which enables the “relaxed” to be deceived by them to deceive to make quick profits. and profits.
He showed several reasons for the growth of the phenomenon, including low interest rates in banks, high inflation rates and price increases, as well as stagnant markets, which forced citizens to look for other compensatory ways to increase their income.
Inheritance of Putting Money Companies
During the 1970s, Egypt saw what became known as “Islamic companies to invest money”, run by figures affiliated with the Islamic trend.
The researcher in the affairs of political and religious movements says that these companies have succeeded in creating a “parallel economy” within the country. For the first time in its history, Egypt witnessed the intertwining of the economy with the da’wah, emphasizing that the penetration of religious currents into society is the main reason for the spread of the “relaxed” phenomenon.
He said: “The spiritual plays a crucial role in whatever domain he is in, because of the Egyptian social nature that adopts the logic of (this man is our Lord’s).”
He added that during the era of Presidents Anwar Sadat and Hosni Mubarak, the Egyptian political systems allowed for a comfortable presence for the religious stream, enabling it to “play a prominent political, social and economic role in society. play.”
Commenting on this, the economics researcher said the phenomenon of the comfortable is another aspect of the issue of money investing, without the existence of a legal or legislative basis that gives them the right to obtain citizens’ money. and to recycle.
He added: “Old money investment companies have worked in various economic sectors and achieved unprecedented successes, attracting citizens’ savings from banks as well as the capital from small investors, due to the high return on investment by them.”
Farouk explained that this phenomenon caused the wastage of the savings of thousands of Egyptians, before the Egyptian authorities Act no. 146 to regulate the work of money-receiving companies, in 1988.
The economic researcher emphasized that the phenomenon did not cease despite the criminalization of the Egyptian state, but rather arose and became active over many years, within the scope of the “informal or informal economy.”
And on the repercussions of the phenomenon, the researcher in economic affairs says: “The employment of funds outside the banking sector or outside an official commercial and industrial system will harm the national economy.”
He added that this phenomenon exposes citizens’ money and savings to loss by a group of “scammers”, who do not guarantee citizens real, fixed returns, or get their money back when needed.
The professor of political sociology agrees and says that it will cause the Egyptian banking system to lose important funds.
The researcher in the affairs of political and religious movements says: “The most dangerous repercussions are that they will hit the Egyptian economy to death, because the spread of the phenomenon of the ban on dealing with banks in Egypt leads to the deterioration of the economy.”
And he added: “At the time when citizens are going to invest their money in the rest, the Central Bank of Egypt is announcing new certificates with an interest rate of 18%, but because the phenomenon is pervasive and linked to religion, people refuse banks and go to rest, “wonder,” Is there anything more dangerous than that? “