NBE Disburses Yellow Remittances Worth EGP 463 Mln
The National Bank of Egypt (NBE) disbursed EGP 463 million worth of 121,800 yellow remittances as of February 7th 2013, said Mohamed Ihab, head of transaction banking group at NBE.
NBE disbursed 95% of the yellow remittances it was assigned to disburse; 145,300 yellow remittances worth EGP 505 million. The bank disburses from 15,000 to 20,000 remittances daily, he added.
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.
