AlexBank Sao Paulo disbursed EGP 400 million the value of 100 thousand yellow remittances, money owed by Iraq to Egyptian workers who left the country during the first Gulf War in the 1990s, since April 1st till today, Basel Rahmy, general manager of retail banking department at AlexBank Sao Paolo, told Amwal Al Ghad.
Rahmy added that the Bank disbursed 9 thousand remittances on a daily basis with value of EGP 30 million in the last three days.
Alex Bank allocated 75 branches up from the earlier 55 branches to disburse the remittances, which has reduced the crowding over the branches.
National Bank of Egypt, Arab African International Bank, Banque Misr, AlexBank are disbursing the yellow remittances whose value is US$ 408.38 million owed to 670 thousand Egyptians.
Ministry of Workforce and Immigration announced that the required documents for disbursing yellow remittances are the original remittance or the passport on which it is documented the value of remittance.