Arab African International Bank (AAIB) paid out EGP 50 million which is the value of 12,000 yellow remittances, money owed by Iraq to Egyptian workers who fled the country during the first Gulf War in the 1990s, Amr Abdelal, head of retail banking at AAIB, told Amwal Al Ghad.
AAIB decided to work on Fridays and Saturdays so as to decrease the pressure on its 26 branches.
National Bank of Egypt, Arab African International Bank, Banque Misr and AlexBank are participating in paying these remittances which is with value of US$ 408.38 million due to 670 thousand Egyptians.
Ministry of Manpower & Immigration announced that the required documents for disbursement are the original remittances or the passport in which it is documented the value of remittances.
