Central Bank of Egypt Hosts Bank of Ghana Delegations to Advance Cooperation in AI, Digital Transformation, and Cybersecurity
The Central Bank of Egypt (CBE) recently hosted two delegations from the Bank of Ghana to exchange technical expertise and showcase Egypt’s progress in digital transformation, artificial intelligence (AI), advanced data analytics, data governance, and cybersecurity.
First Delegation: Digital Transformation and AI Integration
The first delegation engaged in a multi-day visit focused on the CBE's data management ecosystem. The discussions highlighted Egypt’s implementation of Supervisory and Regulatory Technology (SupTech & RegTech) and the application of AI in supporting monetary policy, forecasting inflation, and measuring labor market indicators.
The Ghanaian officials were also briefed on the CBE's strategy to transition toward a less-cash society. The presentation covered the development of Egypt's national payment infrastructure and key strategic initiatives, including:
Instant Payment Network (IPN) & InstaPay Application: Enabling instant digital transactions across the banking sector.
Tokenization Technologies: Enhancing the security architecture of digital payment channels.
Digital Financial Identity (eKYC): Streamlining electronic customer identification and verification processes.
Second Delegation: Cybersecurity and FinTech Governance
In a concurrent two-day visit—marking their second trip to Egypt—the second Ghanaian delegation focused on the CBE's cybersecurity frameworks.
The agenda included an in-depth review of the operational mechanisms of the Financial Sector Computer Emergency Response Team (EG-FinCIRT). Officials discussed the governance of digital financial services and regulatory frameworks required to evaluate and authorize FinTech applications prior to market launch.
Discussions heavily emphasized risk assessment methodologies and cyber resilience as outlined in the CBE’s "Comprehensive Cybersecurity Regulatory Framework." The CBE noted that it is currently preparing to launch an upgraded second edition of this framework to adapt to rapidly evolving global cyber threats and equip financial institutions with precise assessment tools.
Fostering African Financial Integration
The CBE stated that hosting the Ghanaian delegations aligns with its commitment to technical cooperation and capacity building alongside fellow African central banks, supporting greater financial and banking integration across the continent.