Empowering West Africa through Capacity Building in Financial and Economic Management
Financial Sector & Payment Systems
FSPSD 001-R: Foundations of Modern Banking Supervision and Resolution: Integrating Climate and Emerging Financial Risks (Level I)
Date: March 2 – 13, 2026
Duration: 10 days
Venue: Lagos, Nigeria.
Background
The global financial system faces unprecedented challenges from climate-related risks, digital disruption, and complex interconnected financial systems. Banking supervisors in West Africa need to integrate climate and emerging financial risks into their supervisory frameworks to ensure financial stability and resilience.
Objectives of the Course
To equip banking supervisors with foundational knowledge and tools to integrate climate risk and emerging financial risks into supervisory frameworks, strengthen resolution regimes, and promote financial system stability.
Main Themes
- Fundamentals of risk-based banking supervision
- Basel III framework: capital adequacy, liquidity and leverage
- Climate risk taxonomy and integration into supervisory frameworks
- Emerging financial risks: crypto-assets, fintech, and operational resilience
- Resolution planning and bank resolution tools
- Supervisory stress testing methodologies
Who May Attend
Junior to mid-level officials of Central Banks and regulatory agencies responsible for banking supervision, financial stability, and resolution planning.
Delivery Modalities
Lectures, case studies, group exercises, and peer learning sessions facilitated by experienced supervisory practitioners and WAIFEM faculty.
FSPSD 002- R: Regional Course on Regulation and Oversight of Cybersecurity, Crypto Assets, and Digital Currency in the Age of Decentralized Finance.
Date: April 13 – 17, 2026
Duration: 5 Days
Venue: Online.
Background
The rapid proliferation of crypto-assets, central bank digital currencies (CBDCs), and decentralized finance (DeFi) platforms presents regulators with novel challenges in Financial stability, consumer protection, and AML/CFT compliance. West African regulators need updated frameworks to effectively oversee this evolving landscape.
Objectives of the Course
To provide regulators and supervisors with the knowledge and regulatory tools to effectively oversee cybersecurity risks, crypto-assets, CBDCs, and DeFi platforms in the West African context.
Main Themes
- Cybersecurity risk assessment and regulatory frameworks for financial institutions
- Crypto-asset taxonomy: Bitcoin, stablecoins, DeFi tokens, and regulation
- Central Bank Digital Currencies (CBDCs): design, risks, and regulation
- Decentralized Finance (DeFi): opportunities, risks, and oversight challenges
- AML/CFT compliance in crypto and digital asset markets
- International regulatory approaches and regional coordination
Who May Attend?
Mid to senior-level officials of Central Banks, financial regulatory agencies, and Financial Intelligence Units responsible for digital finance oversight.
Delivery Modalities
Online lectures, interactive breakout sessions, regulatory scenario analyses, and country case studies facilitated by international experts.
FSPSD 003 – R: Regional Course on Tackling Illicit Finance: Strengthening AML/CFT Strategies Against Evolving Threats.
Date: May 11 – 15, 2026
Duration: 5 days
Venue: Freetown, Sierra Leone.
Background
Illicit financial flows continue to undermine economic development, fiscal integrity, and financial system stability in West Africa. Evolving threats including cryptocurrency-enabled money laundering, trade-based money laundering, and proliferation financing require updated supervisory and enforcement approaches aligned with FATF standards.
Objectives of the Course
To strengthen the capacity of financial sector regulators and supervisors to identify, assess and counter evolving AML/CFT threats using modern risk-based supervisory approaches.
Broad Themes
- Risk-based approach to AML/CFT supervision
- Emerging typologies: virtual assets, trade-based ML, and proliferation financing
- FATF standards and Mutual Evaluation Recommendations
- Beneficial ownership transparency frameworks
- Financial Intelligence Unit (FIU) collaboration and information sharing
- Case studies from West African countries
Who May Attend
Officials from Central Banks, Financial Intelligence Units, AML/CFT supervisory agencies, and financial sector compliance departments
Delivery Modalities
Expert-led lectures, case study analyses, group syndicate discussions, and practical exercises facilitated by AML/CFT practitioners and WAIFEM faculty.
FSPSD 004-R: Regional Course on Financial Inclusion and Microfinance Innovation for Poverty Reduction and Resilience.
Date: June 15 – 19, 2026
Duration: 5 Days
Venue: Abuja, Nigeria.
Background
Financial inclusion remains a critical development challenge in West Africa, with significant proportions of the population unbanked. Mobile money, agent banking, and digital microfinance innovations offer transformative opportunities but also raise new regulatory and consumer protection challenges.
Objectives of the Course
To enhance participants’ understanding of financial inclusion frameworks, microfinance innovations, and regulatory approaches that promote inclusive financial systems while protecting consumers and maintaining stability.
Main Themes
- Financial inclusion frameworks and measurement methodologies
- Mobile money ecosystem: regulatory models and best practices
- Microfinance institution supervision and prudential frameworks
- Digital credit and innovative lending models
- Consumer protection in inclusive financial services
- Gender and financial inclusion: closing the gap
Who May Attend
Regulators and supervisors from Central Banks, microfinance regulatory bodies, development finance institutions, and government ministries responsible for financial inclusion policies.
Delivery Modalities
Facilitated discussions, field case studies, peer learning, and presentations from fintech and microfinance practitioners and WAIFEM experts.
FSPSD 005-R: Regional Course on Modern Financial Reporting and Risk Transparency: IFRS and Financial Soundness Indicators.
Date: July 6 – 10, 2026
Duration: 5 days
Venue: Banjul, The Gambia
Background
High-quality financial reporting and transparent disclosure of financial soundness indicators are essential for market confidence, supervisory effectiveness, and macroprudential monitoring. The adoption of IFRS 9 and evolving disclosure standards require significant capacity building among West African financial institutions and regulators.
Objectives of the Course
To strengthen participants’ knowledge of modern financial reporting standards (IFRS) and the compilation and interpretation of financial soundness indicators (FSIs) for effective supervisory and market oversight.
Main Themes
- IFRS 9: classification, measurement, and expected credit loss (ECL) methodology
- IFRS 17: insurance contracts – implications for insurers and supervisors
- Financial Soundness Indicators (FSIs): IMF framework and compilation
- Macro-prudential indicators and systemic risk monitoring
- Disclosure and transparency requirements for financial institutions
- Practical exercises: FSI computation and analysis
Who May Attend
Officials from Central Banks, regulatory agencies, and financial institutions responsible for financial reporting, supervision, and macroprudential monitoring.
Delivery Modalities
Expert lectures, hands-on Excel-based exercises, group case studies, and interactive discussions facilitated by IFRS specialists and WAIFEM faculty.
FSMD 006-R: Regional Course on Strategic Reserves Management: Adapting to Global Uncertainty and Climate Risk.
Date: August 17 – 21, 2026
Duration: 5 days
Venue: Monrovia, Liberia
Background
The management of foreign exchange reserves and sovereign wealth funds faces growing complexity amid global monetary tightening, geopolitical risks, and the growing integration of ESG and climate considerations into portfolio strategies. Central Banks in West Africa need to adapt their reserve management frameworks to these evolving challenges.
Objectives of the Course
To enhance the capacity of reserve managers in WAIFEM member countries to develop robust reserve management strategies that account for global uncertainty, climate risk, and evolving international best practices.
Main Themes
- Reserve adequacy assessment frameworks
- Strategic asset allocation and portfolio construction for reserves
- Fixed income instruments: government bonds, agencies, and credit
- Climate and ESG integration in reserve portfolios
- Foreign exchange risk management and currency diversification
- Governance frameworks and accountability in reserve management
Who May Attend
Officials of Central Banks and Reserve Management Offices responsible for foreign exchange reserves management, investment policy, and risk management.
Delivery Modalities
Expert lectures by senior resrve managers, portfolio simulation exercises, case studies, and group discussions facilitated by international practitioners..
FSPSD 007-R: Advanced Banking Supervision and Resolution for the Green Transition and Resilient Financial Systems (Level 2).
Date: September 7 – 18, 2026
Duration: 10 days
Venue: Lagos, Nigeria
Background
As global economy transitions to a low-carbon future, banking supervisors must integrate climate scenario analysis and green finance considerations into advanced supervisory frameworks. This level 2 course builds on the foundations of FSPSD 001-R to address advanced supervisory tools for climate risk, resolution planning, and systemic risk management.
Objectives of the Course
To equip senior banking supervisors with advanced tools for integrating climate and transition risks into supervisory approaches, conducting advanced stress tests, and developing robust bank resolution plans.
Main Themes
- Advanced climate scenario analysis and supervisory stress testing
- Green Finance and sustainable finance regulatory frameworks
- Advanced Basel III implementation: FRTB, SA-CCR, and output floor
- Systemic risk and macroprudential policy tools
- Advanced resolution planning: bail-in, asset separation, and bridge banks
- Cross-border resolution cooperation and coordination
Who may Attend:
Senior officials of Central Banks and regulatory agencies responsible for banking supervision, financial stability, and resolution planning, particularly those who attended level 1 (FSPSD 001-R) or have equivalent experience.
Delivery Modalities:
Advanced workshops, supervisory scenario exercises, guest lectures by senior international supervisors, and facilitated peer-learning sessions.
FSPSD 008-R: Regional Course on Regulating Payment Systems and Financial Market Infrastructure in Digital Era.
Date: October 12 – 16, 2026
Duration: 5 days
Venue: Accra, Ghana
Background
Digital transformation is rapidly reshaping payment systems and financial market infrastructure (FMI) in West Africa. The proliferation of mobile money, instant payment systems and cross-border payment platforms requires regulators to update their oversight frameworks to ensure safety, efficiency, and interoperability.
Objectives of the Course
To enhance participants’ capacity to effectively regulate and oversee payment systems and financial market infrastructure in a digital era, applying international standards and regional interoperability principles.
Main Themes
- International standards for payment systems oversight (CPMI-IOSCO PFMI)
- Regulation and oversight of systemically important payment systems
- Cross-border payments: ECOWAS and African Continental frameworks
- Instant payment systems: design, risks, and regulatory approaches
- Central bank digital currencies and payment system implications
- Cybersecurity and operational resilience in payment infrastructure
Who May Attend
Officials from Central Banks responsible for payment system oversight, financial market infrastructure regulation, and digital finance policy.
Delivery Modalities
Experts-led workshops, case studies from regional and international payment systems, regulatory scenario discussions, and peer learning sessions.
FSPSD 009-R: Regional Course on Supervisory Strategies for Insurance and NBFIs: Digital Finance, Risk, and Resilience.
Date: November 2 – 6, 2026
Duration: 5 days
Venue: Blended
Background
Non-bank financial institutions (NBFIs) including insurance companies, pension funds, and capital market intermediaries are increasingly important for financial deepening and stability in West Africa. Digital transformation and cross-sector risk transmission require supervisors to apply modern risk-based approaches tailored to these institutions.
Objectives of the Course
To strengthen supervisors’ capacity to apply risk-based and proportionate supervisory strategies for insurance companies and NBFIs, integrating digital finance risks and resilience frameworks.
Main Themes
- Risk-based supervision frameworks for insurance (IAIS ICPs)
- Solvency II principles and their adaptation to West African markets
- Digital insurance and InsurTech: regulatory opportunities and risks
- Pension fund supervision and governance
- Capital Market intermediaries: broker-dealers, fund managers, and exchanges
- Cross-sectoral contagion risks and systemic risk assessment
Who May Attend
Regulators and supervisors from Central Banks, insurance commissions, securities regulators, and pension regulatory authorities in WAIFEM member states.
Delivery Modalities
Blended format combining online modules, interactive workshops, peer discussions, and case study analyses, facilitated by regional supervisory experts and WAIFEM faculty.