CBE joins Pan-African Payment and Settlement System
As part of Egypt’s efforts to deepen economic collaboration with African nations, the Central Bank of Egypt (CBE) has joined the Pan-African Payment and Settlement System (PAPSS). Developed by the African Export-Import Bank (Afreximbank), PAPSS streamlines cross-border payments and trade
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CBE authorizes banks to open financial inclusion accounts
The Central Bank of Egypt (CBE) has granted banks permission to open financial inclusion accounts in foreign currencies for individuals and micro-enterprises classified as low-risk clients under categories A and B, as per the November 2023 circular. Banks are also