Egypt’s central bank hosts Ghana officials for AI, cybersecurity talks

Egypt’s central bank said on Monday it hosted two delegations from the Bank of Ghana to expand cooperation on digital transformation, artificial intelligence (AI), data governance, and cybersecurity as part of efforts to strengthen financial integration across Africa.

The first delegation reviewed the Central Bank of Egypt’s (CBE) integrated data management system, including data governance, supervisory and regulatory technology (SupTech and RegTech), and the use of AI to support monetary policy, inflation forecasting, and labour market analysis, the CBE said in a statement.

The visit also covered Egypt’s digital transformation strategy, including efforts to expand digital payments, strengthen payment infrastructure, and promote a less-cash economy. The officials highlighted initiatives including the Instant Payment Network (IPN), the InstaPay application, tokenisation technologies, and the electronic Know Your Customer (eKYC) system for digital customer identification and verification.

A separate two-day visit by another Bank of Ghana delegation focused on Egypt’s cybersecurity framework, including the Egyptian Financial Sector Computer Incident Response Team (EG-FinCIRT), governance of digital financial services, and regulatory approval processes for fintech products before launch.

The discussions also covered cyber risk assessment and the Egyptian Financial Cybersecurity Framework (EG-FinCSF). The CBE said a second version of the framework is being prepared to strengthen supervisory tools and improve the resilience of banks and financial institutions against evolving cyber threats.

The central bank said the visits form part of its efforts to expand technical cooperation and capacity building with African central banks, supporting closer financial and banking integration across the continent.

Attribution: Amwal Al Ghad English