Introduction to Supervision & Internal Auditing

MEFMI Trains New Examiners at Banco de Mocambique

MEFMI conducted a training workshop titled “Introduction to Supervision and Internal Auditing” at the Bank of Mozambique from 27 February to 10 March 2023, in Maputo, Mozambique. This was the first training activity within a multi-stage capacity development programme for the Bank’s newly recruited supervision and internal auditing staff.

The workshop aimed to introduce the officials to the foundational tenets of supervision of a wide range of financial institutions, including banks, capital markets players and microfinance institutions; outline the global standards governing supervision and internal auditing; as well as to introduce the main aspects of operational risk management within the context of a central bank. It covered topics such as risk-based supervision of banks, capital markets and fintech products, anti-money laundering and counter financing of terrorism (AML/CFT) supervision, internal auditing, and operational risk management.

A total of 30 officials attended the training. In terms of gender distribution, female participants accounted for 37 per cent of the total participants. It is expected that the officials will utilise the knowledge gained from the workshop to enhance the supervision practices at the Bank and contribute more effectively to the attainment of a stable financial system in Mozambique.

By Noel Mahombera