Mohammed Hussein, the group’s secretary general, said at a news conference that the movement’s consultative council decided at a meeting to adopt a decision to form the new Freedom and Justice Party.
“We have adopted the measures taken by the guidance council regarding the Freedom and Justice Party and adopted its programme,” he said.
He said the party, which will be headed by the Brotherhood’s politburo member Mohammed al-Mursi, will be “independent from the Brotherhood but will coordinate with it.”
The party will contest only between 45 and 50 percent of seats in an upcoming election in September, the first since a popular revolt in February ousted president Hosni Mubarak.
A report in World News. More Here
Freedom and Justice Party could emerge as the biggest bloc
Analysts said the group could win about a third of the votes in the September election and emerge as the biggest bloc in parliament.
|Headquarters of Freedom and Justice Party|
"The Islamist group will have more power to block legislation it does not like more than passing new laws if they were largely opposed by other members."
The Brotherhood is an Islamist group founded in the 1920s and has deep roots in Egypt's conservative Muslim society. Though formally banned under Mubarak, it was tolerated as long as it did not challenge his power.
At a news conference on Saturday, the group's secretary general, Mahmoud Hussein, confirmed that the group would not field a candidate in a presidential election, due after the parliamentary vote.
But Mohamed Mursi, the newly appointed head of the Brotherhood's Justice and Freedom Party, refused to rule out contesting a presidential vote and said it was too early to discuss the party's plans.
"When the brotherhood group says its party is independent it means it," he said.
A report in reuters. More Here