Financial sector players in the West African Sub-Region have been urged to embrace Financial Soundness Indicators (FSIs) as a way of combating risks of global trade tension which may threaten the soundness of financial institutions.

The FSIs serve as a crucial tool for assessing the health and stability of financial institutions by providing insights that are indispensable for informed decision-making.

As part of efforts to enhance the resilience of financial systems in the West African Sub-Region, the West African Institute for Financial and Economic Management (WAIFEM) held a one-week training programme for financial sector players within the regional bloc, on how to combat risks of global trade tension which may threaten the soundness of financial institutions.

Speaking to Joy Business at the opening of the West African Institute for Financial and Economic Management (WAIFEM) regional course on FSIs, Director-General of WAIFEM, Dr. Baba Musa said the course offers participants with a unique opportunity to delve into the critical aspects of financial stability and resilience.

“The conduct of this course for the WAIFEM member countries signifies a shared commitment to enhancing our understanding of financial stability and fortifying the economic resilience of our region. Thus it offers us a unique opportunity to delve into the critical aspects of financial stability and resilience”.

He added that WAIFEM will be tracking the progress of member countries with respect to Financial Soundness Indicators in ensuring resilience and soundness within the financial landscape.

Delivering a speech on behalf of the Governor of the Bank of Ghana, Acting Head Financial Stability, Dr. Kwasi Osei Yeboah, said he’s optimistic the course will provide the right forum for exchange of ideas towards ensuring safer financial systems.

“I have no doubt that this course will provide the right forum for exchange of ideas towards ensuring safer financial systems. I encourage you to make your participation rewarding by taking every available opportunity to tap the knowledge of the excellent faculty placed at your disposal”.

The FSI serves as a crucial tool for assessing the health and stability of financial institutions by providing insights that are indispensable for informed decision-making.