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Egypt

Instant Payment Network

Scheme name: Instant Payment Network

IIPS Type: Bank

Inclusivity level: Basic

Year of establishment: 2022

System owner: Egyptian Banks Company

Overseer: Central Bank of Egypt

Operator: Egyptian Banks Company

Total Participants: 27

Volumes 2022: 16,000,000

Values 2022: 2,588,728,675 USD

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CategoryInstant Payment Network
Geographic reachDomestic
Geographic descriptionEgypt
Scheme governanceEgyptian Banks Company
Settlement agentCentral Bank of Egypt
Participants - commercial banks27
Participants - MMOs0
Participants - non-bank PSPs0
Participants - MFIs0
Volumes 2018-
Volumes 2019-
Volumes 2020-
Volumes 2021-
Values 2018- USD
Values 2019- USD
Values 2020- USD
Values 2021- USD
GNI391,743,566,093
GNI (%)1%
% off-us transactions
Interoperability arrangementThird party
Ownership modelParticipant-owned
Governance TypologyPPP
Messaging standardISO 20022
Types of proxy IDsProprietary ID
Use of open APIsYes
QR code standard N/A
Pro-poor governanceNo
CB governance involvementYes
Expanded use CasesNo
Minimum channel functionalityYes
Minimum use case functionalityYes
All licensed PSPs can participate (all-to-all interoperability)No
RecourseNo
Not-for-lossNo
TSP partners N/A
Start-up funding (US$ million) N/A

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