Source of image: Suez Canal Authority.
Source for text: quoted from Disraeli and the Purchase of the
Containership on the Suez Canal
"For over 80 years the Canal was essentially a foreign enclave. The
Suez Canal Company, which owned and operated the Canal was an Egyptian
cooperation, but practically all the share capital was held abroad.
Foreigners controlled the board of directors and constituted the great
bulk of the managerial and technical staff. Only a fraction of the profits
went to Egypt. In 1949, the Suez Canal Company concluded an agreement
with the Egyptian Government establishing new conditions of administration
more favorable to the country, including an increased share of the profits
and a provision enlarging the countries representation on the board
"Presumably the agreement of 1949 would forever satisfy the Egyptians.
However, in 1956 the Nasser regime seized control of the canal and claimed
its sovereign right to govern its use. Thus the Suez canal remains to
this day, a national treasure to the Egyptian people, making the country
millions of dollars daily."