Egypt Central Bank Governor Joined PAPSS Governing Council
The 14th meeting of the Pan-African Payment and Settlement System focused on regional trade and banking integration.
Updated on Sept. 19, 2026 in Financial Services
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Central Bank of Egypt Governor Hassan Abdalla attended the 14th meeting of the Pan-African Payment and Settlement System Governing Council in Nairobi. The council, which consists of 15 central bank governors, discussed technical and legal frameworks to enhance economic cooperation.
Why it matters
This engagement aims to strengthen regional banking ties and bolster trade cooperation across African nations. By studying the platform's features, Egypt seeks to integrate its domestic banking sector into the broader continental payment system.
The council is comprised of 15 members representing various central banks. The recent gathering in Nairobi marked the 14th meeting of this Governing Council.
The players
Hassan Abdalla
He serves as the Governor of the Central Bank of Egypt and joined the PAPSS Governing Council earlier in 2025.
Pan-African Payment and Settlement System
It is a centralized payment and settlement infrastructure designed to facilitate trade across the African continent.
African Union
This continental body maintains formal representation on the PAPSS Governing Council to support regional economic integration.
African Development Bank
This multilateral development finance institution provides oversight and representation as a member of the council.
The details
Central Bank of Egypt representatives reviewed the technical and legal requirements necessary for Egyptian banks to join the Pan-African Payment and Settlement System. The session was held in conjunction with the annual meetings of the Association of African Central Banks.
Timeline
Hassan Abdalla joined the PAPSS Governing Council in January 2025.
The 14th meeting of the Governing Council occurred in Nairobi on September 19, 2026.
Market Landscape
The meeting marks a critical expansion phase for the Pan-African Payment and Settlement System. This collaborative effort helps harmonize regional financial infrastructure against a backdrop of fragmented cross-border trade.
Improved integration of the Egyptian banking sector into continental systems could eventually simplify cross-border transactions for businesses and traders. These efforts are designed to reduce the cost and time required for regional financial settlements.
The takeaway
Regional cooperation on payment systems is a key driver for reducing reliance on non-African currencies in trade. Businesses should monitor upcoming policy changes that may streamline international transactions within the network.
Further reading
For more background on international banking integration, visit our Financial Services section.
Live Poll
Do you believe cross-border payment integration between African nations will strengthen your national economy?
