FMI
Bergo on Norwegian payment system efficiency
SPEECH - In the speech 'Efficiency in the Norwegian payment system' Jarle Bergo of Norges Bank said Norway has received praise for the efficiency of its payment system. However, Norway has decided to modernise the current settlement system because the…
Bank of Estonia prepares for ECB transfer system
The Bank of Estonia has launched preparations to accession to TARGET, the Trans-European Automated Real-time Gross settlement Express Transfer system of the European Central Bank.
Indian bank unveils first mobile ATM
ICICI Bank has taken technology one step further with the launch of its first mobile automated teller machine (ATM). The bank has got the Reserve Bank of India (RBI) approval for the mobile ATM in Punjab. "We have also applied for mobile branch licences…
ECB may issue €1 note to help curb price rises
The European Central Bank is to discuss the idea of introducing one euro banknotes as a possible way to curb inflation. However, the high velocity of circulation of low value notes coupled with higher production costs would make this an expensive option.
Australian credit-card case clears first hurdle
The potential complexity of Visa and MasterCard's landmark legal action against the Reserve Bank of Australia over credit-card reforms was underscored on Wednesday when the parties spent the day resolving how confidential information from 50 third…
Sri Lanka finalising scripless settlement system
The Central Bank of Sri Lanka is in the process of finalising the details of a scripless securities settlement system to be implemented next September, a central bank official said Tuesday.
New e-cash system in France
Regulators following the development of e-commerce will be interested to learn that the revolutionary electronic cash system for small transactions that has been tried out in several French provinces since 1999 went live in Paris in November.
MasterCard takes a swipe at RBA
The long running dispute between the credit card companies and Australia's reserve bank continued this week as legal action got under way. The action concerns alleged misconceptions by the Reserve Bank of its obligations under the Payments Systems …
Greens win reprieve on Irish notes landfill site
The problem of what to do with the old legacy currencies replaced by the euro reared its head in Ireland as the central bank bowed to pressure and agreed to look again at what it was doing with the old Irish punts and not just dump them in landfill sites.
Serb payment reform to prompt new bank mergers
Yugoslavia will shift responsibility for payment systems in January 2003 to commercial banks and away from the state controlled central bank. The move towards a more competitive payment systems market is likely to prove a testing time for Serbia and…
Recommendations for Securities Settlement Systems
REPORT - Assessment methodology for "Recommendations for Securities Settlement Systems" CPSS Publications No. 51, November 2002.
RBZ launches new payment system
ZIMBABWE - Starting on November 18, the Reserve Bank of Zimbabwe (RBZ) will introduce an electronic transfer and settlement system (ZETSS) that will link Zimbabwe's commercial banks in the movement of funds among participating banks using settlement…
Yugoslav bank chief rejects Montenegro's proposals
YUGOSLAVIA - Yugoslav National Bank Governor Mladjan Dinkic said Friday that in defining a payment operations' system with Serbia, Montenegro is insisting on solutions that are without parallel anywhere in the world, adding that Serbia will not accept…
Barbados c bank publishes new e banking guidelines
BARBADOS - The Central Bank of Barbados has published new guidelines for electronic banking in the island.
Norges Bank Press Release
PRESS RELEASE - The payment systems have become more efficient, 6 November.
Thailand's credit card rate to be capped at 18%
THAILAND - Interest rates and charges for credit cards issued by both banks and non-banks should be capped at 18%, says Finance Minister Somkid Jatusripitak.
Thai central bank and govt to discuss credit cards
THAILAND - The Bank of Thailand and the Finance Ministry will meet this week to finalise details of a new regulatory structure for non-bank credit card issuers.
Major revolution in Nigeria's bank industry begins
NIGERIA - A major revolution in Nigeria's banking industry began Monday with the automation of cheque clearing among all 90 banks in the country. The launching of the Nigerian Automated Clearing System (NACS), an arm of the Nigeria Inter-Bank Settlement…
Zambian central bank to introduce high value notes
ZAMBIA - The Bank of Zambia said Saturday it has embarked on a national currency restructuring program that will ultimately result in the launching of high value notes in 50,000kwacha (US$10.99)and 20,000kwacha denominations.
New Afghan banknotes go into circulation in north
AFGHANISTAN - New Afghan banknotes have been officially put in circulation in the northern zone. The ceremony started with a recitation from the holy Koran.
Non-bank credit card rules due in Thailand
THAILAND - Financial regulators were directed to draft measures to regulate credit cards issued by non-bank institutions by next month. Prime Minister Thaksin Shinawatra yesterday chaired a meeting on a proposed new credit card bill.
Polymer notes not now: RBI
INDIA - The Reserve Bank of India has said that there is no immediate plan to introduce polymer or plastic currency notes to replace the existing paper notes.
Central Bank of Russia offers more zodiac coins
RUSSIA - The Central Bank of Russia will issue more coins of the Zodiac series, starting tomorrow. It will be Scorpio now-silver two-rouble pieces and gold 25 roubles. Up to 20,000 silver coins will appear in circulation, and up to 50,000 gold, said the…
New Afghan currency to come into circulation 7 Oct
AFGHANISTAN - The head of Da Afghanistan Bank, the central bank, Dr Anwar al-Haq Ahadi, has said the new currency will be put into circulation on 15 Mizan [7 October 2002] and said that the exchange process of the old currency for the new one will be…