The West Africa Institute for Financial and Economic Management (WAIFEM) has initiated a week-long training program designed to introduce participants to various monetary policy frameworks and digital innovations aimed at addressing pressing issues.

Speaking during the opening ceremony on Monday, August 18, 2025, in Monrovia, the Director of Financial Sector and Payment Systems Department of WIAFEM, Amadou Koora, said,” Without strong harmonized financial marketing structures, regional trade will remain slower, costly, and less competitive”.

Koora noted that the training curriculum and programs have been revised to reflect emerging technologies and global challenges that have impacted the economic environment.

He disclosed that the participants, drawn from Nigeria, Liberia, Sierra Leone, Ghana, and the Gambia, will be trained through Artificial Intelligence and its implications for monetary policy, digital currency, and innovation in payment systems, among others.

The Director of the Financial Sector and Payment Systems Department of WIAFEM spoke on behalf of the Director General of WAIFEM, Dr. Baba Musa.

At the same time, the Executive Governor of the Central Bank of Liberia (CBL), Henry Saamoi, described the training as timely and necessary for WAIFEM member countries.

Governor Saamoi said the move will promote fast cross-payment to enable citizens to engage more confidently.

He said,” The training will make a great impact in the Banking Sector of West African countries by deepening participants’ understanding of the theoretical foundations and practical applications of the Financial Market Infrastructure and Payment System”.

The Director of Financial Markets Department at the CBL, Euphemia Swen-Monmia, who proxied for Governor Saamoi, also described the payment system as a cartilage for financial inclusion and critical component in preserving public trust.