Wednesday , March 21 2018

Remarkable increase in Egyptians’ remittances

KUWAIT CITY, Nov 15: Money exchange companies in Kuwait recorded a remarkable increase in Egyptians’ remittances over the last few days, owing to the official announcement that the International Monetary Fund (IMF) will grant $12 billion loan to Egypt, reports Al-Rai daily quoting sources.

Sources disclosed the total amount of daily remittance of Egyptians in the past few days reached half billion Egyptian pounds. Sources said the average remittance of Egyptians in each of the three biggest money exchange companies in the country reached 100 million pounds daily, indicating there are about 40 licensed money exchange companies operating in the local market.

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