Egypt’s Instant Payment Network (IPN) had processed 1.47 billion transactions worth roughly EGP 4.33 trillion by the end of the second quarter of 2026, Central Bank of Egypt (CBE) Governor Hassan Abdalla said. The network had about 22 million registered customers over the same period.
Abdalla gave the figures on 29 September at the 50th annual ordinary session of the Council of Arab Central Banks and Monetary Authorities in Abu Dhabi, which brings together central bank heads from across the Arab world to coordinate financial and monetary policy. Representatives of the World Bank Group and the OECD also attended. The CBE launched the IPN as Egypt’s national real-time payment system, connecting the banks operating in the country so that users can send money and settle payments instantly.
Council members reviewed how far Arab states have gone in rolling out instant payments, with Egypt’s InstaPay, Saudi Arabia’s Sarie and the UAE’s Aani cited as examples. Abdalla set out three aims for these systems: making them more inclusive, broadening what they can be used for, and supporting regional integration and cross-border payments. He said each country should design its programme to fit its own needs, priorities and level of payment system maturity, while protecting the independence and credibility of its central bank.
Cash is still the main way Egyptians pay, although digital use is rising and the CBE offers low-cost smartphone payment options as part of a plan to move towards a cashless economy. Small and medium-sized businesses are adopting digital and online payments in growing numbers. Cashless transactions in Egypt are projected to reach $27.63 billion by 2027, growing at 14.03 per cent a year, helped by wider use of e-wallets. Earlier in September, Egypt held talks with Afreximbank on linking its Pan-African Payment and Settlement System to InstaPay to expand payments with other African countries.
At a workshop on keeping economies stable during geopolitical turmoil, Abdalla urged regional central banks to coordinate fiscal and monetary policy, warning that “such coordination cannot succeed in isolation”. He also joined the MENA Leaders’ Summit on Financial Health, held on 30 September and 1 October and organised by the Central Bank of the UAE with the World Bank, the office of the UN Secretary-General’s Special Advocate for Inclusive Finance for Development and the Arab Monetary Fund.
