Central Bank of Egypt Governor Hassan Abdalla participated on Wednesday in a high-level conference in Nairobi on the use of artificial intelligence in central banking, held on the sidelines of the 48th Annual Meetings of the Association of African Central Banks (AACB).
The event, hosted by the Central Bank of Kenya to mark its 60th anniversary, brought together central bank governors from more than 40 African countries, along with experts, regulators, financial‑sector representatives and international institutions. Discussions centered on how AI can be deployed by central banks while addressing associated risks, governance challenges and operational safeguards.
Artificial intelligence in monetary policy and supervision
Conference sessions focused on three main areas: the application of AI to monetary policy and financial stability; the use of AI to strengthen banking supervision and financial integrity; and frameworks for AI governance and risk management. Participants examined the technology’s ability to process large and diverse datasets, support economic forecasting and enhance central banks’ analytical capacities.
Delegates also discussed practical internal applications, including document analysis, knowledge management and report preparation, highlighting these uses as ways to improve operational efficiency and make better use of available data.
The conference concluded with a review of national readiness to adopt AI technologies and the importance of regional cooperation, and participants explored next steps for promoting responsible AI adoption across financial systems and leveraging existing cooperation frameworks among African central banks.
Abdalla’s attendance underlined the Central Bank of Egypt’s engagement with the evolving field of artificial intelligence and its potential role in strengthening the efficiency of policy implementation and supporting monetary and financial stability.
Abdalla is continuing his participation in the 48th Annual Meetings of the AACB, hosted by the Central Bank of Kenya from September 13 to 18. The governors’ annual symposium, scheduled for Thursday, September 17, is focusing on “Monetary Integration and Financial Sovereignty in Africa: Strategic Insights into Reducing the Continent’s Dependence on International Institutions.”
The symposium agenda includes discussions on African central banks’ experience in strengthening monetary‑policy frameworks to support broader economic integration, sessions on developing domestic financial markets and alternatives to external financing, and prospects for integrated continental payment systems aimed at supporting monetary sovereignty and addressing related challenges. Several member central banks are expected to share their experiences and approaches.
The annual meetings will conclude on Friday with the AACB’s Annual Meeting of the Board of Governors, which is expected to consider and adopt a range of decisions concerning the association’s activities and the work of its technical committees, specialized groups and task forces.
