IBAG, the leading international money transfer company, announced today the launch of its new brand identity under the name “Rimmit”, marking a strategic evolution in its journey to deliver advanced non-banking financial solutions in Egypt and around the world. This milestone marks the celebration of the company’s 30th anniversary, recognizing three decades of leadership in the remittance sector and reflects the company’s commitment to strengthening cross-border connectivity and simplifying money transfers between individuals and families worldwide.
This transformation is driven by Rimmit’s vision to deliver a more seamless and integrated financial experience. As part of this shift, the company is introducing a new digital application that enables users to transfer funds directly to bank accounts and mobile wallets, alongside the option of cash pickup from the nearest branch, offering greater flexibility and convenience tailored to customers’ daily needs.
Dr. Moustapha Sarhank, Executive Chairman, commented: “Launching Rimmit represents a pivotal milestone in our journey, bringing together our legacy of trust and operational excellence with a future-focused digital approach. This transformation goes beyond technology and financial solutions; it is centered on enhancing the human experience, simplifying transactions, and building a financial ecosystem where every customer feels valued, connected, and empowered. This has been our mission for 30 years: to serve people, bridge distances, and make financial services accessible and reliable for all Egyptians and expats, both at home and abroad.”
Dr. Moustapha Sarhank further emphasized that the launch aligns with the company’s commitment to supporting Egypt’s national efforts to advance financial inclusion, accelerate digital transformation, and contribute to sustainable economic growth; in line with the country’s strategic vision for a more inclusive and resilient economy.
Abdallah El Sada, CEO of Rimmit, stated: “Today, we celebrate 30 years of leadership in Egypt’s remittance sector, a moment of pride that reflects a journey of sustainable growth. Over the years, we have established ourselves as a trusted partner for a diverse base of over one million customers annually, including Egyptian expatriates and their families. We have processed over 4 million transactions, as well as inbound remittances reaching USD 2.4 billion annually.
Moreover, we have contributed approximately 10% of Egypt’s total remittance inflows, underscoring our role in supporting the Egyptian economy and enhancing financial stability.”
“Financial inclusion and nationwide accessibility remain top priorities for us,” El Sada reiterated “Through strong strategic partnerships with leading banks, including the National Bank of Egypt (NBE), Banque Misr, and Banque du Caire, we have expanded our reach over the years, especially among underserved segments. Today we have a robust network that reach 176 branches nationwide, including 39 IBAG branches and a presence across 137 partner bank branches (52 branches within NBE, 60 in Banque Misr, and 25 in Banque du Caire). Additionally, it’s worth mentioning that within its longstanding history, the company complied with all regulations of the Central Bank of Egypt and all relevant international bodies.”
Ismail Sarhank, Deputy CEO of Rimmit, expressed how the event marks a true starting point for a new phase in the company’s journey, stating: “With the launch of Rimmit, we are redefining our role as a money transfer provider.
Our new identity reflects our commitment to delivering accessible financial solutions that empower customers across Egypt, whether through digital channels or our extensive branch network, while maintaining the highest standards of trust and security that have defined us for the past three decades.”
“With the new app launch, we go beyond traditional remittance services to introduce an advanced digital model that redefines the customer experience. By integrating digital innovation with our trusted physical network, we offer fast, flexible, and user-friendly financial services, including multi-currency capabilities and seamless transfers between bank accounts and mobile wallets, placing customer needs at the forefront of a modern financial ecosystem that promotes inclusion and enhances service efficiency.” Added Ismail Sarhank.
As part of its expansion strategy, Rimmit is working to offer advanced financial solutions, including the direct transfer of inbound remittances from abroad to bank accounts and mobile wallets within Egypt (APN), alongside receiving transfers via Rimmit app from dedicated teller window at any branch or transferring it directly to bank accounts and mobile wallets seamlessly and efficiently. It also provides multi-currency services, supported by strengthened cross-border capabilities through strategic partnerships with leading financial institutions.
The launch of Rimmit marks the beginning of a new strategic phase, focused on strengthening the company’s position through the development of an integrated business model that connects different markets and enhances the efficiency of cross-border money flows. In Line with this vision, the company is expanding its network by forming additional partnerships with international money transfer operators, supporting the delivery of a fully integrated, multi-channel and multi-currency service offering.
Rimmit also aims to leverage its extensive experience and strong network of partnerships to deliver more advanced and flexible transfer solutions, driven by digital transformation, in line with rapidly evolving user behaviors, ultimately supporting the competitiveness of the Egyptian market and reinforcing its position as a leading regional hub for financial services.
