Situated on the outskirts of Nigeria's commercial city of Lagos, WAIFEM was set up on 22 July, 1996 by the Central Banks of five Anglophone West African countries - Gambia, Ghana, Liberia, Nigeria and Sierra Leone.
According to its 5-year (2015-2019) strategic plan recently approved by the board, WAIFEM will soon start offering Diploma and Certificate Courses.
DG noted that Islamic or interest-free banking is a banking model based on profit and loss sharing system.
He said WAIFEM
is also mandated to carry out research and consultancy in macroeconomic policy management as well as in the promotion of best practices.
Also speaking during the occasion, the Director General of WAIFEM, Professor Akpan H.
WAIFEM is now coordinated through a governing board of the six central banks that constitute the West African Monetary Zone (WAMZ) under the Economic Community of West African States (ECOWAS).
With WAIFEM member countries increasingly involved in bond market particularly local currency bond, Mr.
WAIFEM was set up in 1992 by the central banks of The Gambia, Ghana, Liberia, Nigeria and Sierra Leone, and joined by Guinea in 2012.