Forty-Five banking supervisors and financial stability analysts from ten Central Banks from the region have been trained on Basel III and Macro-Prudential Surveillance which aims at strengthening the resilience of the banking system, improve market confidence in regulatory ratios and promote a level playing field.
Speaking on behalf of the organisers, Outgoing COMESA Monetary Institute (CMI) Director Mr Ibrahim Zeidy observed that COMESA member countries are making progress in implementing different facets of Basel III and they are aware that transition arrangements initially provided gave a period for observation and partial implementation for leverage, capital and liquidity ratios such that countries should have fully complied by January 1, 2019.
Therefore, he noted that this training also aimed to familiarize participants with Basel III standards and principles and equip them with tools and techniques for conducting supervision under the revised framework.
Mr Zeidy added that knowledge gained from this training would enhance the implementation of the COMESA Financial System Development and Stability Plan.
Participants to the workshop were drawn from Burundi, the Democratic Republic of Congo, Egypt, Kenya, Malawi, Mauritius, Sudan, Uganda, Zambia and Zimbabwe.