Banque Misr Disburses 56,109 Yellow Remittances

Banque Misr disbursed last week EGP 200.5 million the value of 56,109 yellow remittances, money owed by Iraq to Egyptian workers who left the country during the first Gulf War in the 1990s.

Mohamed Abbas Farid, deputy chairman of Banque Misr, told Amwal Al Ghad earlier that the Bank allocated 120 branches across Egypt to facilitate the process of disbursement.

National Bank of Egypt, Arab African International Bank, Banque Misr and 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 in which it is documented the value of remittances.

It is worth mentioning that AlexBank and Arab African International Bank are disbursing the value of remittances transferred by both banks, while National bank of Egypt and Banque Misr are disbursing the value of remittances transferred by Iraqi Rafidain Bank.