CAIRO, Apr. 21 (Aswat Masriya) – Egypt's cabinet decided Thursday to appoint Judge Mohamed Yasser Aboul Fotouh as head of the committee tasked with managing the Muslim Brotherhood's funds, a judicial source said.

Aboul Fotouh, will succeed Judge Ezzat Khamees, who headed the committee since its formation in September 2013 pursuant to a decision by an urgent matters court, which banned the Brotherhood. He previously served as the Secretary General of the committee, the judicial source added.

The September 2013 ruling stipulates banning the activities of any association that is branched from the Brotherhood,was founded by Brotherhood, or that receives any form of financial or other support from the Brotherhood. 

Most recently, the committee confiscated 7.204 per cent of Juhayna company's shares, owned by its chairman Safwan Thabet, for alleged Brotherhood ties.

Juhayna Food Industries is considered Egypt's largest producer of juices and dairy products. It caters to markets across Africa and the Middle East, and it also sells to European and United States markets to a lesser extent.

As of late January, the committee had confiscated the assets of 1,375 Brotherhood members since its formation, its chairman had announced. The total amount of money confiscated was EGP 154.758 million.

Egypt listed the Brotherhood as a terrorist organisation in December 2013 and insists it is behind the wave of militancy which has targeted security personnel since July 2013.

The Brotherhood continuously denies the accusations.