Egypt, Djibouti central banks partner for training

The training focused on the latest operational systems employed in critical areas for the central banks, including Egypt's International Transactions Reporting System (ITRS), a primary data source for compiling the balance of payments.

Additionally, it covered systems related to letters of credit and payment processing, areas of significant importance to central banks in managing financial transactions and international trade.

The training sessions took place from 28 to 30 October, offering the participants an in-depth understanding of these vital systems.

The CBE organized a series of virtual courses addressing several banking-related topics, as part of the programme.

These include Bank Restructuring and Banking Resolution; Implementing International Standards for Anti-Money Laundering and Combating the Financing of Terrorism; Stress Testing; and Transitioning to the ISO 20022 Swift Messaging System.

These virtual courses aimed to equip CBD officials with the knowledge and skills to navigate evolving global financial standards and regulatory requirements.

The Arab Academy for Management, Banking and Financial Sciences (AAMBFS) played a key role in organizing the training sessions, ensuring the smooth execution of the programme.

The Djiboutian delegation commended the quality and organization of the training sessions provided by the CBE.

They also expressed their keenness to organize other future training programmes to enhance the exchange of knowledge and expertise between the two institutions, thereby fostering deeper collaboration in the financial sector.

Similarly, the CBE recently hosted a delegation from Zambia and Eswatini for three days to showcase its initiatives in sustainable finance and the promotion of micro, small, and medium enterprises (MSMEs).

This visit highlighted the CBE's ongoing efforts to share knowledge and expertise in critical areas of financial development with African nations.