ITFC and BCEAO explore digital currencies

The Central Bank of West African States (BCEAO) and the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, recently organised a virtual workshop on the trends and developments in central bank digital currency (CBDC) and its potential impact on driving inter-regional trade between West African countries and internationally.

The workshop highlighted the growing interest of central banks in digital currencies across the globe and was aimed at exploring how BCEAO can adopt CBDC into its operations. The experts addressed key trends in the integration of CBDC into mainstream finance, exploring a range of themes and topics including policy, security, legal and regulatory considerations.