MEFMI Countries Urged To Incorporate New Supervisory Developments

MEFMI has been undertaking a study on risk based supervision for banks in order to develop guidelines that will harmonise the region’s approach to all the facets of bank supervision.  Officially opening a seminar to finalise the study that will see the MEFMI region develop a guiding tool in risk based supervision, the MEFMI Executive Director Dr Caleb Fundanga stated the importance of a regional approach to address some of the deficiencies that currently exist in bank supervision.  He implored the 30 participants to produce guidelines that will assist central banks in the MEFMI region to capture and demonstrate how emerging issues in bank supervision such as Basel II/III, stress testing, macro-prudential surveillance and the Revised Core Principles of Effective Bank Supervision can be incorporated in the Risk Based Supervision approach.

Please click here for the official opening speech.