Egypt's parliament has passed a controversial law allowing foreigners to buy Egyptian nationality if they pay tens of thousands of dollars.
A parliamentary committee on Sunday approved the law that lets foreigners become Egyptian citizens after depositing at least $418,000 in a local bank and handing it over to the government after five years.
"The amendment aims to grant citizenship in exchange for investments, which will have a positive impact towards achieving economic development," lawmaker Kamal Amer was quoted a saying by local media.
Lawmakers passed a draft bill of the law last year, sparking anger from some MPs.
Opposition lawmaker Haitham al-Hariri accused authorities at the time of permitting the "sale" the Egyptian nationality in a bid bring quick money into the country.
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The economy of the Arab world's most populous country has suffered from political instability and security threats since the 2011 uprising that ousted long-time leader Hosni Mubarak.
Egypt has been looking to boost its finances and draw back foreign investment through a series of tough austerity measures tied to an IMF loan programme.
This article has been adapted from its original source.
