4 Egyptian Banks Disbursed 517,000 Yellow Remittances Worth 1.941 Bln
The National Bank of Egypt (NBE), Banque Misr, Alex Bank and Arab African International Bank (AAIB) disbursed 517,000 yellow remittances worth EGP 1.941 billion by the end of Monday June 18th.
NBE disbursed 110,000 yellow remittances worth EGP 395 million as well as EGP 11 million out the EGP 19 million which were transferred from Rafidain Bank to NBE, said Hazem Hegazy, head of retail banking and branches network at NBE.
Alex Bank Intesa Saopaolo disbursed 220,000 yellow remittances worth EGP 856 million, said Basel Rahmy, head of retail banking department. Sources told Amwal Al Ghad that Banque Misr disbursed 85,000 yellow remittances worth EGP 296 million. AAIB disbursed 102,000 yellow remittances worth EGP 394 million, according to Amr Abdelal, head of branches network.
It is worth mentioning that yellow remittances are money owed by Iraq to Egyptian workers who left the country in the 1990s during the gulf war. The Egyptian 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.
