Remittances from Egyptians abroad rise 27.2% to $33.9bn in 8M 2026: CBE

Remittances from Egyptians working abroad rose by 27.2% during the first eight months of 2026 to approximately $33.9bn, compared with $26.6bn over the same period in 2025, the Central Bank of Egypt (CBE) said.

Monthly remittances also increased by 21.7% in August 2026, reaching approximately $4.2bn, compared with $3.5bn in August 2025.

Shaimaa Wagih, a banking expert, said remittances from Egyptians working abroad had become more than just an important source of foreign currency or support for the balance of payments. They now represent an influential component of the Egyptian economy, given their capacity to bolster foreign currency liquidity, strengthen banking sector resources, expand the savings base and create greater scope for investment and economic activity.

She noted that these remittances assumed greater significance when viewed as sustained inflows linked to the earnings of millions of Egyptians working abroad, rather than short-term investment flows heavily affected by movements in global markets. Wagih stressed that the economic value of these inflows depended not only on their size but also on how they were channelled into the economic cycle and transformed from monetary resources into savings, financing, investment and production.

According to Wagih, the increase in remittances channelled through official channels strengthens the role of the banking sector as the main gateway for receiving and managing these inflows, highlighting the importance of banks to the real economy.

She explained that the greater the share of remittances flowing through formal banking channels, the better equipped banks would be to manage foreign currency liquidity, provide advanced financial services to Egyptians abroad and their families, and link these inflows to a wider range of savings and financing products.

Furthermore, she emphasised that the benefits extended beyond increasing the resources available to banks to deepening banking relationships with a broad customer base. This would transform remittances from simple money transfers into comprehensive banking relationships encompassing savings, investment, financing, payments and digital services.

Wagih noted that one of the banking sector’s key opportunities lay in moving beyond treating each remittance as a standalone banking transaction towards building an integrated ecosystem of services centred on Egyptian customers living abroad.