Regulatory Alerts2019-10-16
Swaziland Automated Electronic Clearing House Rules and Regulations
The Central Bank of Swaziland, acting through the Swaziland Bankers Technical Committee, issued these rules to establish and govern the Swaziland Automated Electronic Clearing House (SAECH). The regulations mandate standardized electronic clearing and settlement of EMALANGENI payment instruments among member banks, detailing membership criteria, operational procedures, data file standards, and liability limits. A designated Bankers Committee oversees compliance and resolves disputes through binding arbitration, while strict clearing schedules and penalty mechanisms ensure timely inter-bank settlements.
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