The National Bank in the Republic of Macedonia has signed a contract with Hewlett-Packard Bulgaria for delivery, installation and support of a system for real time gross settlement (RTGS) of payment transactions.
The project is financed with EU1.46 million through the Phare programme of the European Union, and with EUR1 million funding from the central bank.
The Macedonian central bank says the implementation of such a system will help build financial stability and move the country's banking system into line with those of its European neighbours. The new system will also lay the groundwork for the introduction of delivery versus payment in the stock market, says the bank.
HP and Swedish software house CMA won the tender for the project in a beauty parade which featured 35 other vendors. Macedonian company Hermes Plus will provide local shipment and support of the hardware.