Money transfers to Egypt via IBAG up 30% YoY in 2023: CEO

Updated 2/22/2024 8:12:00 AM
Money transfers to Egypt via IBAG up 30% YoY in 2023: CEO

Arab Finance: The value of money transferred to Egypt via Western Union’s agent in the country IBAG rose by 30% year on year (YoY) in 2023 to $2.15 billion, the firm’s CEO Abd Allah El Sada told Asharq Business.

The money transfers came mainly from Saudi Arabia, followed by the US and some European countries, El Sada noted.

He expects Eastern Asia to have a position of prominence in the coming period with respect to money transfers to Egypt.

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