Business news

MINSK, 28 November (BelTA) – The National Bank of the Republic of Belarus (NBRB) and the banking IT community developed the framework of Belarus’ instant payment system, Deputy Chairman of the NBRB Board Dmitry Kalechits noted at the session of the Parliamentary Assembly of the Central European Initiative (CEI) on 28 November, BelTA has learned.

The formation of the national instant payment system will promote digital banking, Dmitry Kalechits remarked. “We have worked out the framework of this system together with the banking IT community. The system will boast such advantages as available operating mode and tariffs, instant money transfer, and irrevocable payment. All these things will help banks improve their payment services,” Dmitry Kalechits clarified.

The integration of the national payment system, including instant payments, with international ones is under consideration. According to Dmitry Kalechits, the EAEU member states have made some steps towards this objective. In particular, they are exploring the possibilities of standardizing payment processes and establishing an integrated payment system.

The deputy chairman of the NBRB Board spoke about the Belarusian interbank identification system which opens up new opportunities for every financial market player and facilitates the access to services of every domestic bank for individuals and legal entities. Dmitry Kalechits expressed confidence that Belarus’ experience in setting up, introducing, and operating the interbank identification system can be useful for CEI member states.

In addition to Belarus, the CEI PA session is attended by representatives of 12 countries, including Albania, Bulgaria, Hungary, Romania, Poland, Austria, Slovenia and Ukraine. Invitations to attend the event have been sent to members of the House of Representatives of the National Assembly of Belarus, scientists, and representatives of the real sector of the economy, including heads of major innovative and high-technology companies.

Belarus presides in the Central European Initiative (CEI) in 2017. The motto of Belarus' presidency in the CEI is to promote connectivity in a greater Europe. This regional association includes 18 countries. The main task of the CEI is to promote flexible and pragmatic European regional cooperation in order to prevent the emergence of new dividing lines in Europe.