MEFMI Trains MDFSC Officials on Financial Stability

MEFMI conducted a workshop on Financial Stability for the Multi-Disciplinary Financial Stability Committee of Zimbabwe (MDFSC) from 11 – 13 October 2023. MDFSC conducts ongoing monitoring of the functioning of the financial system and assessment of key financial stability risks and attendant issues. Currently, the MDFSC is working on various initiatives to strengthen the financial stability framework in Zimbabwe. The initiatives include developing a macroprudential policy framework and implementing a contingency planning and systemic crisis management framework.

As part of its support to member countries, MEFMI provided the MDFSC with training on the main financial stability issues. The objective of the training was to enhance the participants’ knowledge of macroprudential policies and crisis management frameworks to enable them to effectively exercise oversight of the financial sector in Zimbabwe.

A total of 25 officials from the four authorities (namely the Reserve Bank of Zimbabwe, Insurance and Pensions Commission, Securities and Exchange Commission and Deposit Protection Corporation of Zimbabwe) received training on financial stability. It is expected that the officials will use the knowledge acquired from the training to effectively monitor systemic risks and implement macroprudential policies and a crisis management framework to contribute to a more stable financial system in Zimbabwe.

By Noel Mahombera.