Central Bankers undergo Training in Banking Supervision

Accra, June 27, GNA - A five-day regional workshop on foundation of banking supervision opened in Accra on Monday to introduce the key roles of Central Bank in economic management and financial stability.

The training organized by West African Institute for Financial and Economic Management and College of Supervisors of the West African Monetary Zone (WAMZ) is also meant to enhance participants' knowledge on critical techniques and skills required in regulating the financial system.

Participants drawn from the supervision departments of Central Banks of Ghana, Liberia, Sierra Leone, and the Gambia and Nigeria, would spend the days looking at issues, including off-site monitoring techniques, on-site examination process and overview of risk management and corporate governance principles.

Speaking at the opening session, Professor Akpan Ekpo, Director General WAIFEM, said financial stability was an important variable for economic growth and development.

He said the recent financial crisis had drawn global attention to the need for stable, effective and efficient financial system based on sound regulatory structure.

"Indeed, courses on banking supervision have become quite relevant given the ever increasing challenges of ineffective risk management, inadequate internal controls and poor corporate governance in financial management," Prof. Ekpo said.

In a speech read for him, Mr Kwesi Amissah-Arthur, Governor of the Bank of Ghana, called for closer collaboration and harmonization of regulatory practices in the sub-region to keep abreast with new developments and ensure a robust and resilient financial system.