The rapid evolution of digital payments and the global exploration of Central Bank Digital Currencies (CBDCs) are reshaping the future of finance. This training course provides a strategic and practical guide for policymakers, central bankers, and financial professionals to understand the implications of these innovations. We will explore the motivations behind CBDC development, the complex policy trade-offs, and the profound impact on monetary policy, financial stability, and inclusion. This program is designed for those who must design, implement, and regulate the next generation of a nation’s payment infrastructure, ensuring it is secure, efficient, and equitable.

This intensive five-day program delves into the technical and governance challenges of integrating digital payment systems and CBDCs into existing financial frameworks. Participants will gain a deep understanding of the design choices, operational risks, and regulatory considerations necessary for a successful transition. Through case studies from around the world and expert-led discussions, attendees will develop the analytical skills to evaluate policy options and steer their institutions through this transformative period. By the end of this course, you will be equipped to lead the charge in building a digital-first financial ecosystem.

Duration: 5 days

Target Audience:

• Central bank monetary policy and research staff
• Payment systems and oversight professionals
• Financial regulators and supervisors
• Treasury and finance ministry officials
• Information technology and cybersecurity experts
• Commercial bank executives and innovation leads
• FinTech entrepreneurs and policy advisors
• Academics and researchers in digital economics
• Legal and governance professionals
• International financial institution staff

Objectives:

• Understand the core motivations and design choices for CBDCs
• Analyze the policy implications of digital payments on monetary policy
• Evaluate the impact of CBDCs on financial stability and financial inclusion
• Formulate regulatory frameworks for digital assets and FinTech
• Interpret the technical and operational risks of digital payment infrastructure
• Assess the geopolitical and strategic implications of CBDCs
• Develop a roadmap for CBDC implementation and stakeholder engagement
• Examine case studies of CBDC projects from around the world
• Identify the future challenges and opportunities in the digital payments landscape

Course Modules: Module 1: The Digital Payments Ecosystem

• The landscape of digital payments: cards, mobile, and instant payments
• The role of payment systems in a modern economy
• The rise of FinTech and new payment intermediaries
• The challenges of cross-border digital payments
• The impact of technology on financial inclusion

Module 2: Rationale and Design of Central Bank Digital Currencies (CBDCs)

• Motivations for issuing a CBDC: efficiency, resilience, and sovereignty
• Retail vs. wholesale CBDCs
• Design choices: token-based vs. account-based systems
• The role of a CBDC in a two-tiered banking system
• Legal and institutional frameworks for a CBDC

Module 3: Monetary Policy and CBDCs

• The impact of CBDCs on monetary policy transmission
• The potential for a CBDC to alter the demand for bank reserves
• The effects on interest rate control and open market operations
• Using a CBDC to enhance policy implementation
• The debate on a CBDC as a new policy tool

Module 4: Financial Stability and CBDCs

• The risk of bank disintermediation and deposit flight
• Designing a CBDC to manage financial stability risks
• The role of a CBDC in a crisis or bank run
• The impact on the stability of the payments system
• Ensuring the resilience of the CBDC infrastructure

Module 5: Financial Inclusion and Policy Integration

• The potential for a CBDC to promote financial inclusion
• Overcoming barriers to access in digital payments
• Policy considerations for a CBDC in underserved populations
• The relationship between a CBDC and cash usage
• Case studies in using digital payments for social good

Module 6: Regulatory and Governance Frameworks

• The regulation of digital assets and cryptocurrencies
• The role of central banks in supervising digital payments
• Anti-money laundering (AML) and counter-terrorist financing (CTF) in a digital world
• Ensuring data privacy and consumer protection
• International cooperation on digital payments and CBDC standards

Module 7: Technology and Security

• The technological infrastructure for a CBDC
• Cybersecurity threats and mitigation strategies
• The role of distributed ledger technology (DLT)
• Scalability and performance requirements for a national payment system
• Building a secure and resilient CBDC platform

Module 8: Global Perspectives and Case Studies

• The status of CBDC projects in different jurisdictions
• Lessons learned from pilot programs and trials
• The strategic implications of CBDCs in a global context
• The role of international organizations and forums
• Comparing different design choices and their outcomes

Module 9: Implementation Challenges and Future Outlook

• Stakeholder engagement and public communication strategies
• The challenges of implementing a major technological and policy shift
• The future of the payments ecosystem: coexistence with cash and private payments
• The long-term impact on the financial system and economy
• Preparing for a digital-first financial future

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.