Central Bank of Egypt Governor Hassan Abdalla participated in the 14th meeting of the African Payment and Settlement System Governing Council in Nairobi. The council reviewed PAPSS development and efforts to increase participation by central and commercial banks while strengthening internal controls and managing cross-border payment system risks. Egypt joined PAPSS in November 2024 under a model that allows Egyptian banks to participate directly and fund and execute regional transactions without a settlement agent or an intermediary providing U.S. dollar funding. The Central Bank of Egypt is now studying links to PAPSS Card and opportunities available through PAPSS Marketplace while supporting interested Egyptian banks seeking to join the system.
2026-09-19Central Bank of Egypt
Central Bank of Egypt reviews PAPSS expansion, governance and links to additional services
Central Bank of Egypt Governor Hassan Abdalla joined a PAPSS Governing Council meeting focused on expanding central and commercial bank participation while strengthening governance and cross-border payment risk controls. The central bank is also studying links to PAPSS Card and PAPSS Marketplace and supporting interested Egyptian banks seeking direct participation.