CBE conducts training program on challenges facing COMESA central banks in the area of ​​supervision and control

The Central Bank of Egypt (CBE) on Tuesday organized a training program in cooperation with the COMESA Monetary Institute (CMI) on the challenges facing COMESA central banks in the area of ​​control and supervision.

This was done as part of the implementation of presidential directives to support Egyptian-African cooperation and integration, and in continuation of the pioneering role of the ECB in achieving banking integration among banks. African centers.

Forty participants representing 12 of the 21 COMESA member central banks participated in the programme, in addition to the CMI delegation led by Lucas Ngorugi – Director of the Institute.

The events sparked a discussion on the challenges facing central bank watchers and how to assess these challenges and manage the attendant risks to safeguard banking sectors and financial stability.

Naglaa Nazhi – Advisor to the CBE Governor for African Affairs – stressed the importance of the subject of the training program, especially in light of the current global and regional changes, noting that the CBE is keen to continue its efforts to support the capacity – training of workers in African central banks, especially since Egypt currently chairs the COMESA central bank governors committee.

On his part, Abdel Aziz Nosseir – Executive Director of the Egyptian Banking Institute – affirmed that the institute is ready as the training arm of the CBE to cooperate with all central banks in Africa to offer training programs priority specialists to the banking executives of these banks.

Furthermore, Ngorugi thanked the CBE for its continued contribution to building the capacity of central banks in COMESA, emphasizing the institute’s aspiration for more cooperation with the CBE in the years to come.

During the training program, which was attended by guest speakers from the supervision and control sectors of the Central Bank of Egypt, participants were divided into working groups to discuss issues and challenges and present possible solutions to overcoming them as practical training in how to solve problems. in the area of ​​control and supervision.

At the end of the program, a set of proposals and recommendations were formulated to strengthen the security and safety of the banking, control and supervisory systems of the African continent in view of discussions at the level of central bank governors during their next annual meeting. to be held in Cairo in November.