2014-10-24

Banking Circular No 5 of 2014 - Implementation of the UN Security Council Resolutions on Central African Republic

Haile Selassie A has issued a banking circular announcing that the National Bank of Rwanda was integrated into the East African Payment System (EAPS) on October 24th, allowing for real-time exchange of transactions across Kenya, Uganda, Tanzania, and Rwanda. The EAPS project is part of efforts to modernize payments across the East Africa region, facilitating trade and enabling public access to real-time payment services. Major benefits include enhanced safety through SWIFT infrastructure, same-day settlement, improved risk controls, and transactions available in local currencies.

Kenya

Central Bank of Kenya

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