Egypt’s c. bank hosts African banking supervision seminar

Egypt’s central bank recently organised a virtual seminar on Effective Supervision: Building Supervisory Frameworks and Risk Management to support African countries in the economic and banking sectors, according to a statement by the Central Bank of Egypt (CBE).

The 2-day seminar hosted 110 participants from African Central Banks. It focused on key principles and practices for maintaining stability and trust in the banking sector.

“This scope stemmed from the CBE’s chairmanship of the Basel Implementation Working Group at the Community of African Banking Supervisors (CABS), affiliated to the Association of African Central Banks (AACB),” the statement said.

The seminar covered regulatory frameworks, supervision mechanisms, Early Warning Signals (EWS), off-site supervision, licensing requirements, governance, Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and the Central Credit Registry’s role in credit risk assessment.

This seminar is one in a series of seminars organised by the CBE over the last three years to enhance collaboration with African member states of the AACB, the statement added.

Previous seminars covered Pillar II and III of Basel Accord on Banking Supervision in 2021, Basel III – Post-Crisis Reforms in 2022, and Climate related financial risks and sustainable finance in 2023.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama