Central Bank Digital Currencies (CBDCs): Policy, Design & Implementation

The global financial ecosystem is undergoing a paradigm shift with the rise of Central Bank Digital Currencies (CBDCs) — a transformative innovation that bridges the gap between traditional monetary systems and the digital economy. This course by Kincaid Development Center provides an in-depth exploration of the policy frameworks, design choices, regulatory implications, and implementation strategies surrounding CBDCs, with a strong focus on the African context.

Participants will gain a comprehensive understanding of how CBDCs can drive financial inclusion, enhance payment efficiency, strengthen monetary policy, and improve financial stability. The course combines global best practices, African pilot experiences, and forward-looking insights on digital currency ecosystems.

Participants who successfully complete the course will receive Certificate of Participation.

Course Objectives

By the end of the course, participants will be able to:

1. Understand the rationale and strategic objectives behind CBDC adoption.
2. Assess different CBDC design models (retail vs wholesale, token-based vs account-based).
3. Evaluate legal, regulatory, and governance frameworks for digital currencies.
4. Examine AML/CFT, privacy, and cybersecurity challenges in CBDC systems.
5. Analyze CBDC infrastructure and technology options including blockchain, interoperability, and resilience.
6. Assess implications for monetary policy transmission, cross-border payments, and financial stability.
7. Draw lessons from African and global case studies on CBDC pilots and implementation.
8. Formulate national or regional roadmaps for CBDC policy and implementation.

Course Duration

5 Days

Who Should Attend

• Central Bank policy and research departments
• Financial regulators and monetary authorities
• Ministries of Finance and Economic Planning
• Fintech and payment systems professionals
• Commercial banks and payment service providers
• Legal and compliance officers in the financial sector
• Development finance institutions and international organizations

Course Outline

Module 1: Foundations of Central Bank Digital Currencies

• Understanding the digital money landscape
• The role of CBDCs in the evolution of money and payment systems
• Motivations for CBDC introduction: efficiency, inclusion, resilience

Module 2: CBDC Design Models and Architecture

• Retail vs wholesale CBDCs: operational and policy distinctions
• Token-based vs account-based designs
• Hybrid and synthetic CBDC approaches
• Offline functionality and resilience in low-connectivity environments

Module 3: Policy and Regulatory Frameworks

• Legal basis and monetary sovereignty
• AML/CFT, privacy, and data governance
• Regulatory sandboxes and innovation hubs
• Balancing innovation, stability, and consumer protection

Module 4: Technology and Infrastructure Requirements

• Distributed ledger technology (DLT) vs centralized architectures
• Interoperability with existing payment systems
• Cybersecurity and resilience measures
• Cross-border and regional payment integration

Module 5: Economic and Financial Implications

• Impacts on monetary policy, liquidity management, and interest rate transmission
• Effects on commercial banking and intermediation
• Implications for capital flows and exchange rate dynamics
• Role in enhancing financial inclusion and reducing transaction costs

Module 6: Case Studies and Lessons Learned

• CBDC pilots and implementations: Nigeria (eNaira), Ghana, South Africa, China, Bahamas
• Regional collaboration and cross-border initiatives (SADC, AfCFTA, WAMZ)
• Lessons from international organizations (IMF, BIS, World Bank)

Module 7: Strategic Roadmaps and Implementation Planning

• Stakeholder engagement and coordination mechanisms
• Public communication and change management
• Risk management and evaluation frameworks
• Building national capacity and digital readiness

General Notes

• The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.
• The participants should be reasonably proficient in English as all facilitation and course materials will be offered in English.
• Upon successful completion of this training, participants will be issued with a certificate.
• The training will be held at Kincaid Training Centre. The course fee covers the course tuition, training materials, two break refreshments and lunch.
• All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.
• Accommodation and airport pickup are arranged upon request. For reservations contact the Training coordinator at Email: training@kincaiddevelopmentcenter.org or Tel: +254 724592901
• This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our Kincaid Training Centre or at a convenient location.

For further inquiries, please contact us on Tel: +254 724592901 or send mail to training@kincaiddevelopmentcenter.org

Payments are due upon registration. Payment should be sent to our Bank account before commencement of training and proof of payment sent to training@kincaiddevelopmentcenter.org