AAIB Disbursed 109,000 Yellow Remittances Worth EGP 419 Mln

The Arab African International Bank (AAIB) disbursed 109,000 yellow remittances worth EGP 419 million, said Ahmed Shawky, deputy general manager of AAIB. The total number of yellow remittances assigned for AAIB to disburse is 127,000 worth EGP 461 million.

AAIB allocated 26 branches for the disbursement out of its 50 branches spread across all governorates in Egypt so as to save the customers’ time and effort, Shawky noted.

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, 000 Egyptian workers who left the country in the 1990s during the gulf war.