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Hassan Abdullah at African Payments Council
The Governor of the Central Bank of Egypt, Hassan Abdalla, participated in the fourteenth meeting of the Board of Governors of the African Payment and Settlement System (PAPSS) held in Nairobi, aiming to strengthen banking and economic cooperation between Egypt and African countries. The meeting focused on developments in the payment system, increasing the number of participating banks, and reducing risks in cross-border payment systems. The Central Bank of Egypt joined the system in November 2024 to enable direct regional transactions without intermediaries. The system aims to reduce costs and processing time for cross-border payments and supports the enhancement of trade exchange and financial integration among African nations.
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