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Security and Stability of Payment Systems

Safe, stable and efficient payment systems are critical to the effective functioning of the financial system. Payment systems are the means by which funds are transferred usually among banks, and are a major channel by which shocks can be transmitted across domestic and international financial systems and markets. Robust payment systems are, therefore, a key requirement in maintaining and promoting financial stability.
Considering that the payment system strongly influences the velocity of flows in the economy, overall costs and liquidity of participants, and that it serves as a monetary policy transmission channel, it comes naturally that the Central Bank should be the one highly interested in ensuring its efficient functioning

The Role of Payment Systems in Promoting Liquidity and Economic Efficiency

Given that payment systems strongly influence the speed of movement of funds in the economy, general expenses and liquidity of participants, and that they serve as a transmission channel of monetary policy, the reason for the Central Bank's interest in insurance becomes quite clear. of its efficient operation.

The role of the Central Bank of Kosovo in the Insurance and Supervision of Payment Systems

The promotion of safe, stable and efficient payment systems constitutes one of the main functions mandated by law for the Central Bank of the Republic of Kosovo. According to the Central Bank law, the primary objective of CBK is "to promote and maintain a stable financial system, including a safe, stable and efficient payment system". In relation to payment systems, the law gives special powers to CBK: "promotion and supervision of safe, stable and efficient payment systems, clearing and settlement of securities"; and "to organize, own, participate in and operate securities payment, clearing and settlement systems."

The main roles of CBK in the payment system:

Operational Role

Provides clearing and settlement infrastructure for interbank payments; it administers and operates a payment system (IPS– Interbank Payment System) for clearing and settlement of small and large value payments.

Oversight Role –

Establishes rules and procedures, sets standards to promote and sustain a secure and efficient payment system for processing payments, as well as assesses the systems against established standards.

Catalyst Role

Encourages and promotes safety and efficiency in the use of payment instruments and payment systems.

For additional information, as well as in case of remarks or complaints related to interbank payment services, go directly to the address:

Email:
[email protected]
Operating scheme of Interbank Payment System in Kosovo

Operating scheme of Interbank Payment System in Kosovo

The Interbank Payment System operates organized and oversight by the CBK

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National Council Payments

National Council Payments

National Payment Council (NPC) is established based on Article 8 of Law No. 04/L-155 on the Payment System as an advisory body for the Central Bank of Kosovo.

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