Bank of Kigali becomes first East African bank to join China’s CIPS as direct participant

Bank of Kigali has officially integrated into China’s Cross-Border Interbank Payment System (CIPS) as a direct participant, becoming the first bank in Rwanda, and the first headquartered in East and Central Africa, to achieve direct access to the network. The formal agreement was executed on September 8, 2026, in Xiamen, China, during the second CIPS Cross-Border Bank-Enterprise Cooperation Event. Mechanics of Direct CIPS Participation Launched by the People’s Bank of China in 2015, CIPS serves