CBE: RTGS transactions hit EGP232.2t in 10 months
The Central Bank of Egypt (CBE) reported on Wednesday a substantial increase in real-time gross settlement (RTGS) transactions during the first ten months of 2024. The system, which facilitates large-value, high-priority payments, processed a total of 232.217 trillion Egyptian pounds across 2.075 million transactions.
In October, the number of transactions reached 234,266, with a total value of 26.473 trillion Egyptian pounds.
The growth in RTGS transactions underscores the increasing reliance on digital payment systems in Egypt. This trend is driven by factors such as the government’s push for digitalisation, the rise of e-commerce, and the growing sophistication of the financial system.
The CBE’s implementation of the RTGS system in 2009 has significantly improved the efficiency and speed of payment settlements in the country. By enabling real-time transfer of funds, the RTGS system has reduced settlement risks and enhanced the overall stability of the financial system.
As Egypt continues to modernise its economy and financial infrastructure, the RTGS system will play a crucial role in supporting economic growth and facilitating financial transactions.
Month-by-Month Breakdown:
- January: 202,602 transactions worth 20.580 trillion Egyptian pounds.
- February: 202,977 transactions worth 24.318 trillion Egyptian pounds.
- March: 213,761 transactions worth 25.563 trillion Egyptian pounds.
- April: 192,287 transactions worth 21.667 trillion pounds.
- May: 206,209 transactions worth 21.557 trillion pounds.
- June: 175,502 transactions worth 16.898 trillion pounds.
- July: 222,814 transactions worth 25.281 trillion pounds.
- August: 206,224 transactions worth 23.332 trillion pounds.
- September: 219,094 transactions worth 26.543 trillion pounds.
Attribution: CBE
RTGS Statistics Report MonthValueVolume English(October)
