Preparations of the Central Bank of BH for New Payments System

The Central Bank of Bosnia and Herzegovina successfully continues to make preparations for new payments system in Bosnia and Herzegovina. In order to complete the project by December 31, 2000 it has been necessary to keep a very tight schedule of work plan for the CBBH, commercial banks, and the suppliers of hardware and software system. It is planned that the CBBH will hold regular seminars for commercials banks in BIH to inform management and operations of the new payment system.

A seminar was held in the BH Central Bank Main Office last week (November 22, 2000), which was attended by representatives of all commercial banks in BH. Governor Peter Nicholl welcomed the attendees . Representatives of the "Logica" company and "Halcom", suppliers of hardware and software system presented the current status of the project from the suppliers' point of view. Central Bank of BIH provided the report on activities since the last meeting. Representative of the Ministry of Finance in the Government of Federation BH gave the final instruction on the structure of commercial bank account number. It was announced that the structure of commercial bank account number will be published in the next Official Gazette of BH Federation. International Advisory Group distributed the draft payment order form and requested that commercial banks give their comments and suggestions on the form.

On November 24, 2000 the Central Bank of Bosnia and Herzegovina completed the RTGS software system test with four commercial banks in BIH and signed the document on the acceptance of the system. Testing of the system by all commercial banks in BH will start on December 4, 2000 (Monday). Banks will be provided with specific instructions in order to participate in the testing. Commercial banks are ready for the use of the RTGS system. The Central Bank of BH is expected to be ready, since January, 5 2001 (after New Years Holidays), to start processing payment transactions for the commercial banks.

The necessary network infrastructure for Giro Clearing is also being completed and all necessary equipment for the implementation of the system have been delivered to commercial banks. There are now 34 commercial banks with medium license and the CBBH will try to include all these banks in payments system operations by 31 December 2000.