Introduction of a new law on national payment system in DRC

Jul 15, 2011

The Central Bank of DRC must now integrate within the payment systems of the Southern African Development Community following the introduction of new guidelines.

This organisation wants all central banks to increase efficiency and lower costs of cross-border transactions, Les Afriques newspaper reports.

As a result, the DRC government is preparing a new law to modernise its national payment system to comply with the new standards.

The coordinator in charge of the modernisation of the system has been named as Bigoshi Musimwa. He said the new law would have to meet the expectations of the authorities, bankers and citizens.

Mr Musimwa also told about several problems linked with the actual system, such as the low level of access to banking services, the importance of informal and rural economy, the counter-performance of the manual compensation of telecommunication systems and an inadequate legal framework, which does not include direct debit instruments or card and mobile phone payments.ADNFCR-2976-ID-800623997-ADNFCR