Ten Years Since the Reform of the Payment System in BH

On January 5, 2011 it has passed ten years since the reform of the payment system in BH, which is the most successful reform in the banking sector and one of the most successful in BH.

The reform of the payment system was conducted in a record period of time and BH is the first country in the Region that has passed over completely to the new system. In BH, on January 5, 2001, payment system was transferred from the payment bureaus to the commercial banks and the Central Bank of Bosnia and Herzegovina (CBBH) and payment bureaus stopped performing this function.

The CBBH provided the most modern systems for performing the interbanking payment transactions, being the RTGS, i.e. the system for settlement in real time, which means that a payment order is settled at once after sending it from one bank to another and a client has own money available immediately, and the gyro clearing system in which there is multilateral settlement in three cycles daily. All orders could be settled via the RTGS, in accordance with the client's needs, but orders amounting over KM 10,000 are subject to the obligatory RTGS settlement, while gyro clearing enables only settlements of orders up to KM 10,000.

During past ten years, payment system has operated in full capacity, without any problems and that period recorded processing around 233 million of interbanking transactions (5.4 million via the RTGS and 227.6 million via gyro clearing) being KM 438.8 billion worth (KM 334.5 billion via the RTGS and KM 104.3 via gyro clearing system).

Public Relations Section