Background

The financial sector is particularly at risk of cyber threats due to the large volume of sensitive data and money involved in its operations. The interconnected nature of the sector also makes it vulnerable to attacks. Major cyber-attacks could undermine confidence in the financial sector, disrupt essential services, and ultimately jeopardize overall financial stability. As part of its efforts to bolster the operational resilience of the financial sector in the region, MEFMI will conduct a workshop to improve the understanding of how financial services authorities and policymakers can develop cybersecurity strategies and frameworks to safeguard financial stability.

Objectives

The workshop aims to enhance the participants’ knowledge and understanding of cybersecurity concepts and the development of cybersecurity strategies and frameworks at the macro-financial level.

Course Content

The workshop will cover, among other topics:

• i. Introduction to cybersecurity concepts and emerging technologies;
• ii. Current and emerging financial stability vulnerabilities due to cybersecurity risks;
• iii. Designing effective cybersecurity regulatory and supervisory strategies to mitigate cyber risk at the national level/macro-financial level;
• iv. Cybersecurity frameworks and surveillance tools for financial services authorities; and
• v. Inter-agency coordination.

Target Group

The workshop targets middle to senior management officials of financial supervisory authorities from the financial stability, regulation and supervision, legal, and fintech units of MEFMI countries.