2012

Reflecting on Achievements and Anticipating: 2012-2013

The year is nearing that time when most business activities come grinding to a halt and many of us head off for a well-deserved rest.

Before that happens the SADC Banking Association teams wants to take this opportunity to provide a general update on all our payment streams, while at the same time thank all the work group members for their efforts and contributions, to what can generally be regarded as a successful year of development. Next year is a very if not most significant year in the life of this initiative.

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BULK RAND BANK NOTE PROCESSING

The SADC Banking Association identified the need for the bulk ordering and repatriation of Rand (ZAR) notes to be considered as a payment stream in the SADC Payments Project.

This was necessary as the proceeds of such transactions will affect the liquidity the SADC settlement system (SIRESS). The SADC Payments Project is not concerned with the individual transactions undertaken by banks and bureau de changes but only with the wholesale or bulk ordering or repatriation of bank notes.

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SADC ATM AND CARD PAYMENT WORK STREAMS TO MERGE

When the SADC Banking Association first set up the various payment work streams it was decided that, at first, two work streams should be set up to work through specific issues at that time.

The ATM work stream needed to establish what networks and linkages were used in each SADC country in order to figure out the preferred switching, clearing and settlement approach that should be adopted for intra-SADC ATM transactions.

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HIGH VALUE PAYMENTS: THE FIRST STOP ON OUR JOURNEY

Chaired by the Namibian Bankers Association, the High Value Payments Stream is the focus of this second newsletter to the interbank community. Through this newsletter readers will be provided with an update on progress achieved in the work stream after extensive meetings and deliberations on a broad range of issues.

The newsletter also describes relevant technical payment processes and infrastructures that are to be deployed as payments are settled through the SADC Integration Electronic Settlement System (SIRESS).

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