Payment Systems
The Banking and Payment Authorities of Kosovo (BPK) planned to establish an Interbank Payment System since November 2000. This idea was initially supported by the International Monetary Fond (IMF) through their professional payment consultants. The recommendations given were based on three development phases, which helped in creating the existing work plan. With the establishment of the Interbank Payments Advisory Committee (IPAC) under the patronage of the Central Bank of Kosovo with the participation of all the other commerce banks, the work continued on framing all the other operational policies on this subject.
Interbank Payment System has gone through three main phases.
Read more about this topic: Central Bank Of Kosovo
Famous quotes containing the words payment and/or systems:
“Put God in your debt. Every stroke shall be repaid. The longer the payment is withholden, the better for you; for compound interest on compound interest is the rate and usage of this exchequer.”
—Ralph Waldo Emerson (1803–1882)
“Our little systems have their day;
They have their day and cease to be:
They are but broken lights of thee,
And thou, O Lord, art more than they.”
—Alfred Tennyson (1809–1892)