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FMI

Egypt cb opens new check clearing house

EGYPT - The new electronic Cairo Clearing House at the Central Bank of Egypt (CBE) was inaugurated yesterday. Its services will be available to banks nationwide and its computerized system will be capable of clearing up to 100,000 cheques a day.

Loyalty not on RBA cards

FEATURE - Ian Macfarlane and his Reserve Bank appear set on making their proposed changes to the open card schemes, Bankcard, Mastercard and Visa, by the end of the year, regardless of the growing belief the "reforms" will harm the people the central…

Speech by Cathy Minehan, Boston Fed Bank, 8 May

SPEECH - In a speech titled 'U.S. Retail Payments: Change, Challenge and Opportunity' Minehan said "the payments system today faces sources of significant change--change in the form of new payments choices by consumers and businesses, driven by the…

JD1 coin to be replaced by new banknote in Jordan

JORDAN - The Central Bank of Jordan (CBJ) is expected to soon circulate new banknotes, to replace the current round JD1 coins, following numerous cases of counterfeit detected by security and financial authorities, a bank official said on Tuesday.

Banco de Brasilia fails central bank online test

BRAZIL - Brazilian bank Banco de Brasilia topped the central bank's online consumer complaint ranking in April, knocking financial group Grupo Santander Brasil from first to second place, according to information published on the central bank's site.

World's smallest ATM machine goes on display

UAE - Dubai-based Quick Line, which delivered a solution to produce labour cards for the Ministry of Labour and Social Affairs in 1994, has launched the world's smallest ATM called NanoCash.

Charting an ongoing evolution of e-payments

FEATURE - In her 32 years with the Federal Reserve System, Cathy E. Minehan, the president and chief executive officer of the Federal Reserve Bank of Boston, has heard plenty of talk about the paperless society.

Financial Sector Assessment Program

RESEARCH - Financial Sector Assessment Program-Experience with the Assessment of Systemically Important Payment Systems. Prepared by the Staffs of the International Monetary Fund and the World Bank, 19 April, 2002.

Banks gets electronic clearing system

UGANDA - The Uganda Banker's Association (UBA) and Bank of Uganda have introduced an electronic cheque clearing system, to replace the manual system, a statement from the bankers has said.

China's c bank steps up supervision on e-banking

CHINA - The People's Bank of China is requiring both local and foreign commercial banks to provide quarterly reports on their online banking operations in China, a PBOC notice issued on 23 April said.

Korea's forged bank notes soar in 1st quarter

SOUTH KOREA - The number of attempts to use counterfeit bank notes in the first quarter of the year increased dramatically in South Korea, due mainly to easier access to computer scanners and colour photocopiers it is reported.

Debating and preparing for the Payments Future

FEATURE - In a rare set of predictions on how the U.S. payments system's transaction mix will evolve, The Nilson Report in the American Banker says that in about 10 years debit cards will overtake credit cards, cash will remain king, and paper checks…

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