Working Group for the Monitoring of the Payments System to be Formed

The Central Bank of Bosnia and Herzegovina organized today, on February, 6 2001 (Tuesday) one of its regular meetings with the Directors of the Banking Agencies of BH Federation and Republika Srpska and the Director of the BH Federation Deposit Insurance Agency. The meeting was chaired by the Governor of the Central Bank of BH Peter Nicholl.
Despite the certain problems in the new payments system it has been stated that the number of payments transactions significantly increased from 700, what was the number at the beginning on January 5, 2001 to 55 000 transactions on February 5, 2001. Most of the difficulties were caused by the lack of the room in the commercial banks which led to long delays in servicing clients and lack of education which led to many forms being completed wrongly. There are also a lot of payment orders which value is smaller than the fees of the commercial banks and the meeting agreed this should be corrected if possible.
Central Bank of Bosnia and Herzegovina said it will establish a working group with the banking agencies to monitor the new payments system.
Governor of the CB BH Peter Nicholl stressed again that with the raising capital of the commercial banks, arrival of the foreign banks in Bosnia and Herzegovina and opening of the deposit agencies the trust in the banks will increase. Governor Nicholl will encourage the Authorities in RS to establish the deposit insurance in RS as it was done in BH Federation.