AAIB Disbursed 80,000 Yellow Remittances

Arab African International Bank (AAIB) disbursed EGP 320 million, the value of 80 thousand yellow remittances out of the total 127 thousand remittances, money owed by Iraq to Egyptian workers who left the country in the 1990s during the gulf war, said Amr Abdelal, head of branches at AAIB.

Abdelal added in an interview with Amwal Al Ghad that the Bank is expected to disburse the value of all remittances by the end of this month. However, Abdelal said the value of all remittances is unlikely to be disbursed because the documents of some remittances’ holders are lost.

National Bank of Egypt, Arab African International Bank, Banque Misr and Alex Bank are disbursing US$ 408.38 million, the value of yellow remittances 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.