CBE: Egypt’s RTGS transactions hit EGP 286.160t in 2024
The Central Bank of Egypt (CBE) announced a remarkable increase in real-time gross settlement (RTGS) transactions throughout 2024. The RTGS system, which facilitates large-value and high-priority payments, processed a total of 286.160 trillion Egyptian pounds across approximately 2.520 million transactions.
In December alone, the system handled 240,520 transactions worth 31.609 trillion pounds, reflecting a notable surge in digital payment activity. This growth highlights Egypt’s increasing adoption of digital payment systems, driven by the government’s push for digitalisation, the rise of e-commerce, and the ongoing evolution of the financial sector.
Since its implementation in 2009, the RTGS system has played a vital role in enhancing the efficiency and speed of payment settlements in Egypt. By enabling real-time funds transfers, the system has reduced settlement risks and contributed to the overall stability of the financial infrastructure.
As Egypt continues to modernise its economy, the RTGS system will remain a key component in supporting economic growth and facilitating seamless financial transactions.
Monthly Breakdown:
- January: 202,602 transactions worth 20.580 trillion pounds (3 per cent month-on-month rise)
- February: 202,977 transactions worth 24.318 trillion pounds (18 per cent month-on-month rise)
- March: 213,761 transactions worth 25.563 trillion pounds (5 per cent month-on-month rise)
- April: 192,287 transactions worth 21.667 trillion pounds (15 per cent month-on-month decline)
- May: 206,209 transactions worth 21.557 trillion pounds (1 per cent month-on-month decline)
- June: 175,502 transactions worth 16.898 trillion pounds (22 per cent month-on-month decline)
- July: 222,814 transactions worth 25.281 trillion pounds (50 per cent month-on-month rise)
- August: 206,224 transactions worth 23.332 trillion pounds (8 per cent month-on-month decline)
- September: 219,094 transactions worth 26.543 trillion pounds (14 per cent month-on-month rise)
- October: 219,094 transactions worth 26.543 trillion pounds (No change)
- November: 219,094 transactions worth 26.543 trillion pounds (16 per cent month-on-month decline)
- December: 219,094 transactions worth 31.609 trillion pounds (42 per cent month-on-month rise)
Attribution: Amwal Al Ghad English
