National Bank Promises Calculations De-Bureaucratization to Legal Entities

18.11.2010 12:32

In order to reduce the costs of organizing payment procedures, National Bank of Belarus plans to let banks and businesses avoid direct contracts for the calculations during the first quarter of 2011. This possibility was provided by the common calculation information space (CCIS), created by the banking regulator.

As explained by the Head of Information Technology of the National Bank Oleg Veremeichik, the exclusion of direct contracts will allow banks to significantly reduce costs by receiving payments. For example, 9 thousand agreements were previously needed for 30 banks to interact with 300 service providers, whereas now it is enough to have only 330 contracts, BelTA informs.

National Bank has already established a working group to develop a common information space, which is ready to consider suggestions of any interested parties, primarily the commercial banks.

587 service providers have joined CCIS by November 1, 2010.  1.3 thousand services are receiving payments. In this case, agreements have been concluded with 26 banks, 25 of which deal with payments.