The Central Bank announced the settlement of 9.994 million transactions through the Egyptian pound cheque clearing room worth 2.084 trillion during the period from January to November 2022.
The number of operations during January was only 910,590 thousand worth 178.915 billion pounds, and about 871,385 thousand worth 160.834 billion last February .
Operations during March recorded approximately 1.046 million operations worth 208.286 billion, and 797.202 thousand operations worth 165.749 billion pounds last April.
Operations amounted to approximately 973.102 thousand operations worth 198.033 billion pounds in May, 891.118 thousand operations worth 186.597 billion pounds in June and nearly 859.384 thousand operations worth 175.655 billion pounds in July 2022, and 976.6 thousand operations worth 204.8 billion pounds.
It recorded some 976.654 thousand operations worth 204.835 billion pounds by the end of August, and nearly 846.807 thousand operations worth 198.941 billion pounds during September.
It recorded about 927.563 thousand operations worth 207.780 billion pounds by the end of October, and nearly 893.698 thousand operations worth 198.028 billion pounds in November.
The Central Bank of Egypt currently manages and operates two cheque clearing systems, the first being the Commercial Cheque Clearing System, and the second the Government Cheque Clearing System, known as the Government Finance Cheque Clearing System, through which about 70 thousand cheques are settled daily.
The Central Bank aims to reduce this number of paper cheques in the coming years in order to increase the efficiency of cash flow within the financial system, reduce operating expenses associated with paper cheques, and similar to a number of central banks worldwide by using alternative means to make payments, such as "direct additions" through the automated clearing house operated by Banque Misr.
