Session of the National Payments Council

National Payment Council will continue to operate until the end of the year. This is the conclusion of the National Payments Council session held on February 13, 2001 in Sarajevo. National Payment Council was founded on 1998 in order to monitor and coordinate the payments system reform in BH. The members of the National Payments Council are the representatives of the Central Bank of BH, Ministries of Finance and Banking Agencies of the BH Federation and Republika Srpska, and the representatives of commercial banks and payments bureaus. Having in mind that new payments system started operating since January 5, 2001 it was considered whether there is a need for Payments Council to continue to operate. All members agreed that there is a need for such like body, which, in future, will survey the implementation of new payments system in BH.
Governor of the Central Bank of BH Peter Nicholl pointed out that National Payments Council did not have authorities to impose or order the implementation of certain solutions, but it had the important role in reaching certain solutions by agreement. When in question is new payments system, which started operations on January 5, 2001, National Payments Council stated at today's session that during the last month there were complaints about the high commission for the payments transactions of small value. The biggest number of complaints is related to the way of paying the taxes, and especially to the complicated forms for tax payment. Governor of the Central Bank of BH suggested the grouping of payments for different types of taxes, in order to lower the expenses for commissions, which the tax subjects have to pay for the banking services.
Governor Nicholl also said that he received some complaints that some banks have been keeping the payments of their customers and that they do not perform the prompt transfer of funds, although the new payments system is enabling this to them. Governor Nicholl pointed out that such like cases will be investigated, and that the Central Bank of BH may exclude from the payments system the banks holding the assets. So far, 41 banks in Bosnia and Herzegovina are included in new payments system through RTGS (Real Time Gross Settlement System) and gyro clearing system.