An investigative report indicates that the floating of the Egyptian pound has led to the elimination of the black market in Kuwait. A large gap existed between money transfers inside the banking system and outside of it. The report claimed that the dealers of the Muslim Brotherhood tried to destroy the pound amid constant rumors surrounding its illegal transfers, which negatively affect the overall Egyptian economy.
The report revealed that there are currency-exchange offices in Kuwait that continue to exchange money at lower rates than those published by Egyptian banks. They cover this discrepancy through dollar trading. Evidence of this is that some black-market traders collect money from the Egyptians in Kuwait, which is then deposited in Egyptian banks with the aim of flooding the Egyptian economy.
The report disclosed that there are four unauthorized companies which operate secretly to obtain the money from Egyptians working in Kuwait. They then transfer these funds to their relatives in Egypt, in installments over a period of three months, thus hoping to harm the Egyptian economy.