02/04/2013

Commentary
April 2, 2013 
 
Central Bank of the Republic of Kosovo is pleased to announce that today through Mass Payments Scheme of the Electronic Interbank Clearing System successfully executed the processing, transmission, transfer and final settlement of salary payment transactions for eighty thousand civil servants of Public Administration.
The process of transfer and electronic data processing of salary payments through Electronic Interbank Clearing System is characterized by a high standard and automation of the method of payment, as well as a faster, easier and more secure process. Consequently, this way of making payments is considered beneficial for all stakeholders and the payment community in general.
This way of processing, transferring, settling and transmitting data electronically to the receiving bank, has made possible the elimination of inefficient current modes of communication and data processing of payment of salaries by CD, e-mail, paper-list, etc… This new way of processing salaries and its other benefits will considerably facilitate the salary payment method for all government institutions and other institutions willing to join the scheme in the future.
Besides the Ministry of Public Administration, participant in this scheme is by now also the Ministry of Labour and Social Welfare (MLSW), which is also expected to execute all categories of payments of June pension schemes through the Electronic Interbank Clearing System of CBK.
Development and continuous improvement to the Massive Payment Scheme of the Electronic Interbank Clearing System represent important achievements in the development of small value and large volume payments system in our country. This scheme has been used so far by all commercial banks in the country and some government agencies and institutions, as by KTA (2004), by the Kosovo Pension Savings Trust (2005), by the Treasury / MF for all categories of income for the local and central level (2007). 
So for, believing on a mutual cooperation for the future as well, in order to achieve our common objectives set out also in the framework of the Strategy for the Development of the National Payment System in Kosovo, I will take the opportunity to sincerely thank for their cooperation, trust and support in the implementation of our mutual project: the Department of Treasury / Ministry of Finance, Ministry of Public Administration and Social Welfare, all commercial banks operating in Kosovo and Kosovo Bank Association.