Central Banking

Bank of Zambia implements Perago RTGS network

The Bank of Zambia has implemented an electronic funds transfer system supplied by Perago Financial System Enablers, according to FinExtra, to align the national banking industry with international standards for real-time gross settlement (RTGS).

A total of 14 Zambian banks will use the system, the report said, which is based on the Perago:rtgs product, to exchange payments and settlement instructions in real-time using the interbank Swift network.

The central bank is the fourth in the Southern

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