Prominent Egyptian businessman Sayyed Al Sewarky has been arrested. Image Credit: Supplied

Cairo: Egyptian police have arrested a well-known businessman on suspicion of financing terrorism, security sources said Sunday.

Sayyed Rajab Al Sewarky, the owner of the famous department store chain Al Tawhid Wal Nour had been arrested from his house in Giza near Cairo on suspicion of bankrolling a “terrorist group”, the sources added.

The businessman had allegedly pumped money into the outlawed Muslim Brotherhood, Egyptian media reported Sunday.

“He faces charges of belonging to a terrorist group and involvement in acts aimed at disrupting public peace, committing violence and anti-state plans,” semi-official newspaper Akhbar Al Youm quoted a security source as saying.

Banned group

Prosecutors ordered Al Sewarky be remanded for 15 days pending further interrogation on charges of belonging to a banned group and financing terrorism, legal sources said.

Al Sewarky owns hundreds of stores across Egypt, including over 70 in Cairo.

In late 2013, Egypt designated the Brotherhood as a terrorist organisation after a spate of violent attacks unleashed in the country following the Islamist group’s removal from power after massive street protests against its divisive rule.