In an effort to bolster Africa’s economic and banking frameworks, the Central Bank of Egypt (CBE) recently organized a high-level virtual seminar titled “Effective Supervision: Building Supervisory Frameworks and Risk Management.” Held over two days, the event saw participation from 110 representatives from African Central Banks, underscoring Egypt’s commitment to enhancing financial stability across the continent.
The seminar provided a deep dive into the principles and practices essential for maintaining confidence in the banking system. A focal point of the discussions was Egypt’s leadership role as the chair of the “Basel Implementation Working Group” under the Community of African Banking Supervisors (CABS), a body affiliated with the Association of African Central Banks (AACB). The event highlighted the importance of regulatory frameworks in safeguarding the integrity of financial institutions and mitigating systemic risks.
Key topics covered during the seminar included effective supervision mechanisms, Early Warning Signals (EWS), and the CBE’s off-site supervision framework. Additionally, experts examined vital components such as licensing requirements, governance frameworks, and measures to combat financial crimes, including Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT). A significant portion of the discussion also focused on the role of the Central Credit Registry in improving credit risk assessment across African banks.
This seminar is part of an ongoing series aimed at fostering deeper cooperation between African central banks and the CBE. Over the past three years, these seminars have addressed critical banking issues, such as the Basel II and III accords, post-crisis banking reforms, and climate-related financial risks. With each session, Egypt continues to play a pivotal role in advancing banking supervision expertise and promoting economic integration across the African continent.
