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Mamdouh Abbas, the former head of the Zamalek Council, revealed the truth about the details of the loan that Al-Abyad recently obtained, amounting to 70 million pounds. Abbas said, through his personal account on Twitter, that Mohamed Al-Etrebi, head of one of the major banks, and a member of the temporary committee in Zamalek Club, is being subjected to a systematic campaign for a naive reason, as he described it.
He added: “Al-Etrebi is subjected to a systematic campaign claiming that he opened the bank’s coffers to the Zamalek club and loaned him 70 million pounds, and the truth is that Al-Etrebi cannot exceed the limits of his powers and competencies as a professional banker.”
He stressed, “The Zamalek club was loaned with the guarantee of annual subscriptions and with the approval of the responsible authorities in the Ministry of Youth and Sports. For information, the annual subscriptions to the Zamalek Club exceed 250 million pounds. Thank you, Mohamed El-Etreby, who opens its doors to the Zamalek club or any other team with the stipulated bank guarantees.”