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VULINDLELA Payment System Project a Project of the Committee of Central Bank Governors September 2008 VULINDLELA Payment System Project A project of the Committee of Central Bank Governors SADC Payment System Project Annual Regional Conference 28–30 July 2008 Introduction The Southern African Development Community (SADC) Payment System Project Annual Regional Conference for 2008 was held at the Centurion Lake Hotel, Centurion, South Africa, from 28 to 30 July. SADC central banks’ payment system delegates and Delegates at the SADC Payment System Project representatives of some of the commercial banks in Annual Regional Conference the region attended. The focus of the conference was on addressing aspects of the settlement process to the regulatory diagnostic survey on mobile banking enable member countries to use their real-time gross w e re presented, as well as pro g ress made by the settlement (RTGS) systems more efficiently. SARB on drafting its own position paper on mobile payments. A model position paper on mobile Mr Daniel Mminele, an Executive General Manager at payments for SADC is envisioned. the South African Reserve Bank (SARB), off i c i a l l y opened the confere n c e . An overview of the Common Market of Eastern and S o u t h e r n Africa (COMESA) cro s s - b o rder settlement P resenters from member countries shared experiences system, the Regional Payment and Settlement System with other delegates on a wide range of payment- and (REPSS), was presented to the conference. This s e t t l e m e n t - related topics. Presentations and discussions system is scheduled for implementation towards the c e n t red on areas identified in a survey of the SADC latter part of 2008. The SADC Payment System countries on the use of RTGS systems conducted by P roject Team also presented a cro s s - b o rder settlement the SADC Payment System Project Team. These are a s model for the SADC region based on a single curre n c y included cost recovery models, liquidity and collateral framework. Country leaders agreed that this pro p o s e d management, customer support centre management, model should be presented to the Committee of technical support, and an approach to payment Central Bank Governors (CCBG) in May 2009. systems oversight. A commercial bank and a private s o f t w a re company also participated in the pro g r a m m e The meeting of the country leaders at the confere n c e to give delegates a non-central bank perspective on two resolved that the next conference should focus on of the issues. b roader issues within the payment system enviro n m e n t and that international speakers from other re g i o n a l Country leaders indicated that they found the formations should be invited to participate. They also c o n f e rence sessions very helpful. noted that cognisance should be taken of cro s s - c u t t i n g issues across projects within the CCBG, such as the In addition to the presentations mentioned earlier, there Information Technology Forum and Banking Supervision w e re presentations on mobile payment initiatives P roject Team. This may lead to the convening of annual c u r rently in pro g ress in the region. Preliminary results of meetings with other project teams. 1 Payment System Project to Assist the Poor (CGAP), to assess the extent to which countries in the SADC region were ready to Initiatives implement mobile banking. Survey on the effectiveness of The consultant who conducted the regulatory real-time gross settlement (RT G S ) diagnostic survey presented the results of the systems in member countries survey at the regional conference. He also indicated that the templates used in the survey Based on an issue raised at the Committee for were still in a developmental phase and further Central Bank Governors (CCBG) meeting held in refinement was necessary to ensure that they could Tanzania in April 2007, the project team conducted be used globally as a standard. a survey in which member countries participated to establish the soundness and efficiency of RTGS The process of collecting the information is also being systems in the region, and to determine if these reviewed. The new process could include interviews systems were being used efficiently. Countries were requested to provide a wide range of information. in the individual countries to ensure that the Areas of general concern were identified and information provided by all respondents is based on highlighted for focus and discussion at the regional the same correct interpretation of what is re q u i red. payment systems conference in July 2008. Articles from the countries A plan of action is being developed to address the more specific concerns of each of the countries. SAMOS celebrates its tenth The project team will liaise with the individual anniversary countries’ settlement systems personnel on an on- going basis in this regard. On 9 March 2008 the South African Multiple Option Submission of payment system- Settlement (SAMOS) system celebrated its 10th related statistical data for anniversary. To mark the occasion the National Payment System Department (NPSD) of the South publication on the website African Reserve Bank (SARB) invited participants In the past countries provided payment system- from the banking fraternity and the SARB to related statistics for publication in the Bank for celebrate. International Settlements (BIS) Green Book. Similar information will now be published on the Southern Click here to read the entire article. African Development Community (SADC) website. The information submitted by the countries will be Cash and retail payment published per country in one report. systems in developing countries – opportunities and challenges: A refinement of the pro c e d u res to submit the data is being investigated. These new pro c e d u res may allow The case of Malawi for countries to update their information dire c t l y. The past decade has witnessed major innovations Report on the regulatory diagnostic in payment systems, mainly due to advancements in computer technology and deregulation of financial survey on mobile banking markets. The innovations have brought about the extended use of various retail payment instruments ‘Mobile banking’ is the term used for performing as alternatives to cash. Nowadays individuals have balance checks, account transactions and payments to other persons using a mobile device a wide choice of payment instruments, such as such as a mobile telephone. c redit cards, debit cards, cheques, direct debits, e l e c t ronic cash cards and, to some extent, mobile Regulatory development in the area of mobile t e l e p h o n e s . banking is in its infancy because of the new technology, and new conceptual models for Malawi has taken advantage of the revolution in banking and making payments. computer technology to modernise her national payment system. Consultants conducted a survey in the pre v i o u s reporting period on behalf of the Consultative Gro u p Click here to read the entire article. 2 Country Reports Link to Link to Country report presentation Focus slides Angola Implementation of the AACH Drafted the national payment system (NPS) Botswana oversight framework and implementation guidelines Democratic Republic Telecommunications network by satellite of Congo Lesotho First year of operation of the Lesotho RTGS Madagascar Embarked on a project to modernise the settlement system Malawi Proposal to register Electronic Cheque Clearing House (EECH) Linked to REPSS (COMESA), clear and settle Mauritius cross-border payments Mozambique National payment system being restructured Card switching, five-day cheque-clearing cycle, Namibia cheque truncation Introduced near real-time clearing (RTC) for retail South Africa payments Swaziland Implemented the RTGS system Reviewed the rules and regulations for clearing Tanzania houses following automation Zambia Linked up to government, stock exchange and the electronic clearing house Zimbabwe Upgraded the CSD system 3 Tanzania embraces mobile the 2003 Rugby World Cup had two citizens payments captaining countries at the tournament? Who where the individuals and which countries did With recent developments in payment systems they captain? worldwide, Tanzania has also joined the countries 4. Which SADC athlete has won more Olympic currently introducing mobile payment systems Games medals than any other SADC athlete? (M-payments), utilising mobile telephones to 5. Which SADC athlete won three silver medals in transfer funds to pay for goods and services. the men’s 100 m and 200 m at two Olympic Games? Click here to read the entire article. 6. Which SADC motor racing driver has won a world Formula 1 Championship? Quiz: Famous SADC athletes 7. Who is the current coach of the Portuguese soccer team and where was he born? All questions relate to sportsmen and sportswomen 8. Which SADC woman athlete won bronze and from the SADC region. gold medals in the 800 m in successive Olympic Games? 1. Which SADC footballer represented Portugal in 9. Who was the first black football player in an FA the 1966 World Cup? cup final, in which year and for which club did 2. Who won the marathon at the 1996 Olympic he play? Games? 3. Which SADC country that did not participate in Click here for the answers. Country representatives project team Payment System Project Leader Bank of Mauritius Dave Mitchell Tel: +27 12 313 3442 Dhanesswurnath Thakoor Tel: +230 202 3935 [email protected] Fax: +27 12 313 4152 [email protected] Fax: +230 211 7103 Payment System Project Analyst Banco de Moçambique Stephen Mkwanazi Tel: +27 12 313 4452 Henrique E Matsinhe Tel: +258 21
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