The Central Bank of Egypt (CBE) has launched the official website of the African Financial Stability Committee (AFSC) in co-operation with the Association of African Central Banks (AACB).
The move marks a major step towards boosting institutional co-operation and promoting the exchange of knowledge and expertise on financial stability across the continent.
The launch reflects the success of the Central Bank of Egypt’s initiative, under the leadership of Governor Hassan Abdallah, to establish the AFSC under the umbrella of the AACB, the bank said in a statement.
As Africa’s first institutional framework dedicated to financial stability from a macroprudential perspective, the AFSC aims to enhance coordination among African central banks and strengthen the resilience of the continent’s financial systems, it added.
The website offers comprehensive information on the committee’s objectives, mandate, organisational structure and member central banks, while showcasing the work of its specialised groups, including the African Financial Stability Report Working Group and the Macroprudential Policy Development and Implementation Working Group.
It also outlines the Secretariat’s role in providing technical and administrative support and managing the AFSC’s activities.Serving as the committee’s primary digital platform, the portal publishes reports, studies, technical papers and reference materials, including the African Financial Stability Report, the first continent-wide assessment of financial stability prepared by African central banks.
It also provides updates on the AFSC’s meetings, working groups and ongoing initiatives, enhancing transparency and keeping stakeholders informed of developments.
The CBE said the platform will facilitate the exchange of knowledge and best practices, strengthen co-operation in addressing macroprudential risks, and broaden access to the AFSC’s outputs among central banks, financial institutions and stakeholders at regional and international levels.
