East African Payment System in the offing

DANIEL SEMBERYA

THE East African Payment System (EAPS) is expected to
go on stream in December this year, after the central banks
of the three founder member countries of the East African
Community – Kenya, Uganda and Tanzania – had fulfilled
all the prerequisites thereof.
Among the other things achieved by the three central
banks are the implementation of a Real Time Gross
Settlement System (RTGS) using common specifications,
and collateralization of central banks lending to commercial
banks. More...


[SOURCE: BUSINESS TIMES]