AAIB Disbursed 50% of Yellow Remittances

Arab African International Bank disbursed in the last three weeks 60 thousand yellow remittances out of 127 thousand, money owed by Iraq to Egyptian workers who left the country in 1900s during  the first gulf war.

Abdallah Al-Sadah, head of retail banking portfolio, told Amwal Al Ghad the value of the disbursed remittances are more than EGP 250 million which are available in the 26 branches AAIB had allocated to disburse these remittances.

It is worth motioning that National Bank of Egypt, Arab African International Bank, Banque Misr and Alex Bank are participating in disbursing US$ 408.38 million the value of yellow remittances owed to 670 thousand Egyptians and were transferred by Iraq to Central Bank of Egypt.