Central Banking

Mauritius automates banking settlement system

Mauritius' central bank on Dec 21 2000 launched an automated real time clearing and settlement system for the country's banking sector.

Central bank governor Rameshwurlall Basant Roi said the new automated system would allow users to make and receive payments in a faster and safer way than was previously possible. "It's a great step forward in the promotion of efficiency in our payment system," Basant Roi told reporters. "There will be no exchange of paper between banks as with cheques because

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