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- May 11, 2013
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So after all there is something positive about EAC, tayari nilikua nimekata tamaa tuivunjilie mbali na ifie huko.
By JOHN OYUKE NAIROBI, KENYA:
East Africa Community (EAC) Secretariat has announced the launch of a common platform that will allow traders to receive payments in real time and in local currencies.
The Sh2 billion ($23 million) EAC Payment and Settlement Systems Integration Project (E-pssip) is financed by the African Development Bank (AfDB).
It aims at enhancing convergence and regional integration of payment and settlement systems; strengthening a harmonised legislative and regulatory financial sector and building capacities in the partner States. Speaking during the launch, Central Bank of Kenya Governor Njuguna Ndungu described the project as important in light of the proposed East African Monetary Union.
He said the role of the Partner States central banks is to ensure there is transparency in the use of the funds provided by AfDB. The use of the funds will therefore be monitored through the Project Steering Committee and the National Core Teams, which have already been constituted by the central banks, added Prof Njuguna, who is also Chair of the EAC Monetary Affairs Committee.
Read more at: Standard Digital News : : Business - EAC launches settlement system to enable payments in real time
By JOHN OYUKE NAIROBI, KENYA:
East Africa Community (EAC) Secretariat has announced the launch of a common platform that will allow traders to receive payments in real time and in local currencies.
The Sh2 billion ($23 million) EAC Payment and Settlement Systems Integration Project (E-pssip) is financed by the African Development Bank (AfDB).
It aims at enhancing convergence and regional integration of payment and settlement systems; strengthening a harmonised legislative and regulatory financial sector and building capacities in the partner States. Speaking during the launch, Central Bank of Kenya Governor Njuguna Ndungu described the project as important in light of the proposed East African Monetary Union.
He said the role of the Partner States central banks is to ensure there is transparency in the use of the funds provided by AfDB. The use of the funds will therefore be monitored through the Project Steering Committee and the National Core Teams, which have already been constituted by the central banks, added Prof Njuguna, who is also Chair of the EAC Monetary Affairs Committee.
Read more at: Standard Digital News : : Business - EAC launches settlement system to enable payments in real time
