The course spans multiple modules, each focusing on critical components of CBDC development and monetary policy innovation. Participants will engage with case studies, real-world applications, and simulation-based exercises.

Module 1: Foundations of Central Bank Digital Currencies

This module lays the groundwork by exploring:

What are CBDCs? Definitions and typologies (Retail vs Wholesale)
Historical context: Evolution of money and central banking
Drivers behind CBDC adoption (e.g., financial inclusion, cash decline, payment system modernization)
Global trends and initiatives from leading central banks (e.g., ECB, PBOC, Federal Reserve, Bank of England)
Risks and opportunities: Financial stability, privacy, and innovation

Module 2: CBDCs and Monetary Policy Innovation

Explore how CBDCs interact with and reshape traditional monetary policy tools:

CBDC as a tool for improving monetary transmission mechanisms
Potential effects on interest rates, inflation targeting, and central bank balance sheets
CBDC and negative interest rate policies
Enhancing transparency and control over money supply
Macroeconomic simulations and policy trade-offs

Module 3: Design Architecture and Technology Infrastructure

A deep dive into the technical frameworks of CBDCs:

Centralized vs decentralized models
Blockchain and distributed ledger technologies (DLT)
Interoperability with existing financial infrastructure
Cybersecurity, data governance, and privacy
Offline payments and financial accessibility

Participants will explore prototypes and pilot models used by various countries, examining success metrics and technical challenges.

Module 4: Legal, Regulatory, and Ethical Considerations

CBDCs raise important questions about regulation and ethics:

Legal status of digital legal tender
Implications for banking privacy and user data protection
Cross-border coordination and jurisdictional compliance
AML/KYC challenges and solutions
Ethical concerns: financial exclusion vs inclusion, surveillance, and control

Real-world legal frameworks and regulatory positions from BIS, IMF, and FATF will be analyzed.

Module 5: Strategic Implementation and Governance Models

Understand how to build and lead a CBDC initiative:

Roadmaps and policy planning for CBDC rollout
Stakeholder engagement: banks, fintechs, payment providers, government bodies
Operational models (direct, hybrid, intermediated)
Governance, accountability, and central bank autonomy
Building trust and adoption among users

Students will design mock implementation strategies based on different economic contexts.

Module 6: Global Case Studies and Emerging Market Insights

Learn from successful (and failed) CBDC projects around the world:

e-CNY (China), Sand Dollar (Bahamas), eNaira (Nigeria), Digital Euro, and more
Common themes and contextual differences
CBDCs in emerging vs developed markets
Implications for remittances, capital flows, and financial inclusion

This module includes interviews, papers, and media coverage from key policymakers and thought leaders.

Module 7: Capstone Project – Design Your Own CBDC Strategy

The final module challenges participants to create a comprehensive CBDC proposal:

Define objectives and scope
Select architecture and operational model
Outline policy and regulatory guidelines
Anticipate economic effects
Present to a panel for feedback

Mentorship and peer collaboration play a key role. Upon completion, participants receive a certificate of achievement endorsed by London Crown Institute of Training.

Central Bank Digital Currencies (CBDC) and Monetary Innovation Course in Cairo

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