Value of check (cheque) payments in Egypt 2009-2024
As of 2023, Egyptian check (cheque) transactions amounted to over 2.78 trillion Egyptian pounds (around 57.3 billion U.S. dollars). In the first three months of 2024, around 850.1 billion Egyptian pounds (17.5 billion U.S. dollars) have been transferred between parties, a value exceeding the annual value of checks in 2013. Since 2009, check transactions have been increasing exponentially, dropping only in 2019.
On the other hand, the volume of check transactions dropped in 2023 in comparison to 2022, indicating that the checks paid out included higher values. This could also be a result of the Egyptian currency devaluation.
