The modern financial landscape is a complex and ever-evolving system, with central banks at its core. Understanding the legal framework that governs these institutions is not just beneficial, but essential for maintaining economic stability and fostering sustainable growth. This comprehensive training course, Foundations of Central Bank Law (FCBLx), delves into the critical legal principles, practices, and policies that underpin central bank operations globally. It is designed to equip participants with a robust understanding of the legal foundations, ensuring they can navigate the complexities of central banking with confidence and expertise.

In today's interconnected global economy, central banks face new challenges, from digital currencies and financial technology to climate-related risks and cyber threats. The legal framework must adapt to address these emerging issues while upholding the core mandates of monetary policy, financial stability, and payment system oversight. This 5-day course provides a deep dive into these contemporary topics, offering a forward-looking perspective on the future of central banking law and policy. Participants will gain actionable insights and practical knowledge to apply in their respective roles, contributing to the resilience and effectiveness of their institutions.

Duration: 5 days

Target Audience:

• Legal professionals and lawyers working in central banks or financial regulatory bodies
• Mid-level to senior central bank officials, including governors and board members
• Economists and policy advisors involved in monetary policy formulation and implementation
• Compliance officers and risk managers in financial institutions
• Government officials and policymakers
• Academics and researchers with an interest in central banking and financial law
• Financial journalists and analysts
• Private sector lawyers specializing in financial services
• International organization staff
• Students pursuing advanced degrees in law, economics, or public policy

Objectives:

• Understand the core legal principles and constitutional foundations of central banks
• Analyze the legal framework for monetary policy implementation
• Examine the legal aspects of financial stability and crisis management
• Explore the legal challenges and opportunities presented by financial technology (FinTech)
• Evaluate the role of central banks in payment and settlement systems
• Study the legal dimensions of central bank governance and accountability
• Discuss international legal standards and cooperation among central banks
• Gain practical insights into drafting and interpreting central bank legislation
• Develop a forward-looking perspective on emerging legal issues in central banking

Course Modules: Module 1: Foundational Principles of Central Bank Law

• The constitutional basis and legal status of central banks
• Mandates, objectives, and functions of central banks
• Legal frameworks for independence and accountability
• The law of currency and legal tender
• Central bank governance and institutional design

Module 2: Monetary Policy and Legal Frameworks

• Legal authority for setting and implementing monetary policy
• Open market operations and legal instruments
• The law of interest rates and reserve requirements
• Legal aspects of unconventional monetary policy tools
• Communication and transparency in monetary policy

Module 3: Financial Stability and Crisis Management

• The central bank's role as lender of last resort
• Legal powers for macroprudential regulation
• Bank resolution and crisis management frameworks
• Legal tools for systemic risk oversight
• International cooperation in financial crises

Module 4: Payment Systems and Financial Innovation

• Legal frameworks for payment and settlement systems
• The role of central banks in promoting safe and efficient payments
• Legal challenges of central bank digital currencies (CBDCs)
• Regulation of virtual assets and cryptocurrencies
• Data privacy and cybersecurity in central banking

Module 5: Emerging Issues and Global Perspectives

• The law of financial inclusion and consumer protection
• Legal considerations for climate-related financial risks
• International monetary law and the role of the IMF
• Legal aspects of cross-border financial supervision
• Future trends in central bank law and regulation

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 7 working days before commencement of the training.