The Meeting on the change of the existing Giro-clearing in Internal payment transactions in BiH
The Meeting on the change of the existing Giro-clearing in Internal payment transactions in BiH was held on 13th of March 2018.
At the proposal of the Banking Association of BiH the meeting held between Committee for payments, Committee for Legislation with the representatives of the Central Bank of Bosnia and Herzegovina was held regarding the announced improvements in the giro clearing system with CBBiH.
At the meeting, representatives of UBBiH were introduced with the planned changes of the current giro clearing, which will enable the use of SEPA (Single European Payment Area) formats in the domestic payment system in BiH. Given the announced changes, it was agreed to define the proposals for Entity Ministries of Finance to amend form and contents of internal payment orders and introduce a payment code to enable banks to efficiently process payment orders in BiH and improve reporting. As suggested, the payment ciphers should be taken/ copied from the SEPA payment order with the addition of the marks for the public revenue.