Central Bank of Egypt (CBE) is holding a meeting today with banks participating in disbursing the value of yellow remittances in value to US$ 408 million due to Egyptians who fled from Iraq during Gulf war. These banks include National Bank of Egypt and Alex Bank, Hazem Hegazy, head of retail banking group at National Bank of Egypt said. Ministry of Manpower & Immigration is preparing a database of the names so that the remittances can be disbursed. Iraqi government transferred US$ 408.38 million to CBE balance due to 670 thousand Egyptians who acquire bad debts in Iraq from 20 years.
