AAIB Disbursed Yellow Remittances Worth EGP 437 Mln
The Arab African International Bank (AAIB) disbursed EGP 437 million worth of 114,000 yellow remittances as of February 7th, 2013.
The bank disbursed 92% of the yellow remittances it was assigned to disburse which are 127,000 remittances worth EGP 471 million, said Ahmed Shawky, deputy general manager of AAIB.
The bank will continue to disburse the rest of the remittances, he added, noting that the demand for disbursing yellow remittances decreased to about 100 remittances per week.
The 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 by Iraq to 670 thousand Egyptians, who left the country in the 1990s during the Arab Gulf war.
The 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.
