Kuwait banks to provide SWIFT money transfer for Egyptian expats

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KUWAIT CITY - According to informed sources, major exchange companies in Kuwait have completed their preparations to provide a service for transferring the value of dollar deposits to Egyptian residents who wish to export their cars to Cairo, reports Al- Anba daily.

They explained that the traditional transfer system provided by exchange companies in Kuwait via online does not comply with the requirements of the law on customs exemption for cars of Egyptians abroad in exchange for a dollar deposit, as it requires that it be deposited through bank transfer only.

This is what prompted the companies to make the banking transfer service through the SWIFT system available for the Egyptians residing in Kuwait. The bank transfer process, which is compatible with the exemption law with exchange companies, is carried out with a fee of USD 35 (equivalent to about KD 10.5) on the entire amount, whatever it is, and paid once.

Some banks provide the service for free through their applications and with fees of up to KD 8 through its branches without calculating the commission of the intermediary bank.