The Central Bank of Egypt (CBE) recently organized a seminar on “Current and Emerging Regulatory Developments”, attended by representatives from approximately 23 African central banks, members of the Association of African Central Banks (AACB). The event underscores Egypt’s leading role in fostering cooperation and knowledge exchange among African financial institutions.
The seminar focused on priority topics for central bank supervision, including the Pillar II and III frameworks of the Basel Accord, supervisory regulations on Emergency Liquidity Assistance (ELA), Recovery Plans, Sanctions, and Governance. It also addressed emerging areas such as Cybersecurity and FinTech regulations, with the aim of enhancing awareness and developing risk management practices across the continent.
Tarek El Kholy, Deputy Governor of the CBE, said, “We always welcome cooperation and exchange of expertise with our brethren from African central banks to enhance work efficiency in all relevant specialties. This series of seminars, organized under Egypt’s chairmanship of the Basel Implementation Working Group, represents a role model for integration among banking institutions that we aspire to support and expand at the regional and continental levels.”
The seminar is part of an ongoing series that has been held virtually over the past several years under the CBE’s leadership of the Basel Implementation Working Group at the Community of African Banking Supervisors (CABS), which was established during the Annual Conference hosted by Egypt in June 2019. This seminar marks the first in-person participation of African central bank representatives after a period of virtual-only sessions since 2021.
Since its inception, the Working Group has hosted multiple seminars covering key areas of banking supervision and regulation, including the Pillar II and III frameworks of the Basel Accord, Basel III post-crisis reforms, climate-related financial risks and sustainable finance, and effective supervision through building robust supervisory frameworks and risk management practices. These seminars have played a vital role in fostering expertise exchange among professionals in banking supervision and oversight across African central banks, strengthening the region’s ability to address emerging regulatory challenges.
