Central Bank of Egypt to chair North Africa region in 2028

Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), led the Egyptian delegation to the 48th annual meetings of the Association of African Central Banks (AACB) held in Nairobi, Kenya. The meetings included representatives from 34 central banks covering 53 African countries.

During the proceedings, the CBE joined the AACB Bureau as Vice-Chair of the North Africa region, a position that serves as a precursor to Egypt assuming the regional chairmanship in 2028. The council also approved the publication of the second edition of the African Financial Stability Report, a project initiated by a proposal from Abdalla in 2024 to enhance continental risk monitoring.

On the sidelines of the AACB meetings, Abdalla participated in the 14th Governing Council meeting of the Pan-African Payment and Settlement System (PAPSS). Following Egypt's formal integration into the PAPSS system in November 2024, the CBE is currently evaluating further technical services, including the PAPSS Card and the PAPSS Marketplace, to facilitate cross-border transactions for Egyptian banks without the necessity of US dollar intermediaries.