Egypt Adopts Global ISO 20022 Standard for Bank Transfers

The Central Bank of Egypt has adopted the ISO 20022 financial messaging standard for interbank transfers, introducing the new framework across all banks operating in the country for SWIFT transactions from June 21st, 2026.

The move upgrades Egypt's Real-Time Gross Settlement (RTGS) system, which handles high-value payments between banks, and forms part of broader efforts to advance digital transformation and align the banking sector with international standards.

ISO 20022 is increasingly being adopted by central banks and payment systems worldwide. Compared to older messaging formats, it allows more detailed and structured payment information to accompany transactions, improving their speed, accuracy and transparency.

According to the Central Bank, the upgrade will enable faster and more reliable payment processing while reducing the need for manual intervention through Straight-Through Processing. The richer data contained within payment messages is also expected to facilitate cross-border transfers and improve compatibility with international and regional payment systems.

The new standard is also intended to strengthen compliance procedures by allowing banks to automatically screen transactions against local and international anti-money laundering and counter-terrorism financing requirements, reducing operational risks.