Arab Finance: The Central Bank of Egypt (CBE), in cooperation with the Association of African Central Banks (AACB), has launched the African Financial Stability Committee (AFSC) website to strengthen institutional cooperation among African central banks and expand the exchange of knowledge and expertise on financial stability across the continent, as per a statement.
The new digital platform marks the latest step following the establishment of the AFSC, an initiative led by the CBE under the sponsorship of Governor Hassan Abdalla and the auspices of the AACB.
The AFSC is the first continent-wide institutional framework dedicated to financial stability from a macroprudential perspective. It aims to strengthen coordination and cooperation among African central banks while supporting the stability of financial systems across Africa.
The launch reflects the commitment of the CBE, the AACB, and member central banks to advance African financial integration and reinforce the AFSC's role as a continental platform for technical cooperation on financial stability, supporting more resilient financial systems and sustainable economic growth across Africa.
The website provides information about the committee's objectives, mandate, organizational structure, and member central banks. It also outlines the work of its specialized groups, including the African Financial Stability Report Working Group and the Macroprudential Policy Development and Implementation Working Group, as well as the role of the AFSC Secretariat in providing technical and administrative coordination, managing the platform, and overseeing content updates.
The portal will serve as a central repository for the committee's reports, studies, technical papers, and reference materials, including the African Financial Stability Report, which the CBE described as the first comprehensive continent-wide assessment of financial stability prepared by African central banks.
It also includes updates on the committee's periodic meetings, working groups, and ongoing initiatives to improve transparency and keep stakeholders informed of developments.
The platform is expected to facilitate the exchange of knowledge and best practices among African central banks while strengthening coordination in addressing macroprudential risks and challenges affecting financial stability across the continent.
