- The Central Bank of Egypt revealed that 4.1 million transactions were settled through the Check Clearing House in Egyptian pounds, with a value of 1.441 trillion pounds during the first 5 months of 2024.
- According to the Central Bank’s report, the value of operations was divided into 290.29 billion pounds during January, 282.656 billion pounds during last February, 277.098 billion pounds during March 2024, 277.164 billion pounds during April, and 314.4 billion pounds during last May.
- During the year 2023, the Central Bank settled 10.191 million transactions through the Check Clearing House in Egyptian pounds, with a value of 2.783 trillion pounds.
- The Central Bank currently manages and operates the check clearing system in the currencies of the Egyptian pound, the US dollar, and the euro only within the Arab Republic of Egypt, and supervises and organizes the clearing operations and addresses the problems related to them, takes appropriate measures in this regard, and determines the net balances resulting from this process at a specific time for three separate currencies. Then, settlement orders are executed on the real-time settlement system, where about 50,000 checks are traded daily.
- In line with the vision and mission of the Central Bank of Egypt and within the framework of its plan for comprehensive digital transformation, which includes developing and modernizing the market infrastructure, including payment systems, the most important of which is the check clearing house system, the Central Bank of Egypt seeks in its future plan to move from the system based on paper exchange as the basis for clearing and then settlement. , to the digital system based on electronic registration and the secured digital image of the check, to be exchanged between member banks and settled on its basis, in addition to the possibility of providing an electronic check clearing system.
