Jean-Claude, President of Western Union EMEA, said: Transfer money around the world Continue despite the Corona pandemic, as people continue to send aid and money back to their countries.
He added in an interview with “Al Arabiya”, that the method of money transfers has changed and grown to the digital method of sending more than traditional methods.
He explained that money transfers have increased by 4 to 6% globally since the Corona pandemic crisis.
Jean-Claude said that remittances in Russia and Ukraine were affected by the war, while remittances in Europe and globally were not affected by the war between Russia and Ukraine, while remittances continued to increase in Western Europe.
The head of Western Union in Europe, the Middle East and Africa added that Europe was affected economically by the war and the Russian gas crisis, but it was not affected in terms of money transfers, while labor-exporting countries such as India, the Philippines and Egypt were affected.
This came on the sidelines of Banque du Caire joining the shareholders of Ibag, the agent of Western Union in Egypt, after purchasing a 10% stake in Banque Misr and Al-Ahly Capital Holding Company.
Banque du Caire said that this partnership will expand the circle of sending and receiving money transfers in Egypt.