In line with the Central Bank of Egypt’s (CBE) leading role in strengthening cooperation with African counterparts, the CBE has recently organized a seminar on “Current and Emerging Regulatory Developments”, with the participation of around 23 Central Banks, members of the Association of African Central Banks (AACB).

Central Bank of Egypt

The seminar’s agenda focused on priority topics for Central Banks supervision, including Pillar II and III frameworks of Basel Accord, supervisory regulations on Emergency Liquidity Assistance (ELA), Recovery Plans, Sanctions, and Governance, as well as addressing the specific regulations related to Cybersecurity, and FinTech. The seminar aimed to enhance awareness and develop risk management practices in central banks to address emerging challenges within the African continent”.

Mr. Tarek El Kholy, Deputy Governor of the Central Bank of Egypt, stated: “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 and hosted by the CBE, as part of its chairmanship of the Working Group on the implementation of Basel Accords, represents a role model for integration among banking institutions that we aspire to support and expand at the regional and continental levels”.

This seminar is part of an ongoing series of seminars, held virtually for several past years, under the CBE’s chairmanship 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. Worth noting, this seminar marks the first in-person participation of African Central Bank representatives, after being held virtually since 2021.

Since its inception, the Working Group has launched a series of virtual seminars hosted by the CBE over the past four years. Previous seminars encompassed “Pillar II and III of Basel Accord on Banking Supervision” in 2021, “Basel III – Post-Crisis Reforms” in 2022, “Climate related Financial Risks and Sustainable Finance” in 2023, and “Effective Supervision:

Building Supervisory Frameworks and Risk Management” in 2024. These seminars played a vital role in fostering the exchange of banking expertise among calibers working in the field of banking supervision and oversight at African central banks.