Initiated the processing of electronic payments for social schemes


The Central Bank of the Republic of Kosovo announces to the public that today, for the first time, has successfully concluded the processing, transmission, transfer and final settlement of about 153 thousand payment transactions of four social schemes for the Ministry of Labour and Social Welfare (MLSW), through Mass Payments Scheme of Electronic Interbank Clearing System (EICS).

The process of transfer and electronic processing of payments data for the four above mentioned categories of the social schemes of the MLSW, through the Electronic Interbank Clearing System, is characterized by a high standardization and automation of the payment method, as well as a fast, easy and secure process for their implementation. Consequently, this way of making payments is considered beneficial to all stakeholders and payments community in general. This way of processing, transmitting, settling and transferring data electronically to the receiving bank, has made possible the elimination of the up to now less efficient methods of communicating and processing payments data with CDs, e- mails, paper lists, etc.

This new way of processing pensions and other benefits, makes pension payments significantly easier to the Ministry of Labour and Social Welfare. Therefore, in addition to the Ministry of Public Administration (MPA), the Ministry of Labour and Social Welfare (MLSW), is also participating in the scheme, which Ministry for the first time today processed payment categories of pension schemes for July, 2013.

Development and continuous improvement of mass payments scheme in the Electronic Interbank Clearing System, presents a great achievement in the development of small value payments scheme in the country. This scheme has been used so far by all commercial banks in the country and by some governmental institutions and agencies about which the public has already been informed.

We use this opportunity to thank for their close collaboration, the Treasury Department in the Ministry of Finance, the Ministry of Labour and Social Welfare, all commercial banks operating in Kosovo and Kosovo Bankers Association. Our continuous cooperation will enable us to fulfil our objectives set out in the framework of the Development Strategy of the National Payment System in Kosovo ".