History<br>of IBAG<br>History<br>of IBAG<br>History<br>of IBAG<br>
Our story


International Business Associates Group for Money Transfer Services, S.A.E (IBAG)

is a multifaceted and diverse organization that was established in 1995 with the aim of building ties between Egypt and the international business world, and promoting Egypt as a place worth investing in.

IBAG continues to forge new partnerships to further enhance its long-standing position in the Egyptian Economy.

IBAG has been Western Union’s first agent in Egypt since 1995, and is committed to ensuring that its money transfer services and specialized remittance solutions have a positive impact on the Egyptian economy while adhering to Western Union’s global compliance standards. Its goal is to provide customers with a dependable and secure money transfer service network.

In 2011, Dr. Moustapha Sarhank came on board as a shareholder, assuming the position of President and CEO of IBAG, and currently he is the Executive Chairman.

2020 marked a monumental year for IBAG, when the company welcomed National Bank of Egypt and Banque Misr as IBAG’s new shareholders owning 20% each in IBAG. In September 2022, Banque du Caire joined to become the third shareholder in IBAG, with 10% equity thus rendering the shareholding of the banks to reflect a restructure where National Bank of Egypt (NBE) holds 15%, Banque Misr (BM) holds 15%, and Banque du Caire (BdC) holds 10%.

Currently, IBAG offers its services through its branches in addition to National Bank of Egypt & Banque Misr select branches. Moreover, IBAG is embarking on a full digital journey where it will soon launch a state-of-the-art remittance mobile application that will allow Western Union customers to easily receive their funds into their bank accounts or via wallets with a push of a button.  

IBAG provides a reliable, fast, and secure network of services through 38 strategically located branches throughout Egypt, in addition to 106 branches between the National Bank of Egypt and Banque Misr. Banque du Caire Branches are being introduced to the overall network.

All IBAG branches are open daily from 8:30 am to 9:00 pm, as well as during the weekends and select national holidays with special working hours. Our service hours at our partner banks’ locations are according to their working hours.