Reserve Bank of Zimbabwe goes live with Perago RTGS network

Reserve Bank of Zimbabwe goes live with Perago RTGS network

The Reserve Bank of Zimbabwe has implemented an electronic funds transfer system from Perago Financial System Enablers to align the country's banking industry with international standards for real-time gross settlement (RTGS).

There are currently 15 commercial banks participating in the Zimbabwean project, all of which will be able to exchange payments electronically in real-time using the interbank Swift network.

Alice Zanza, head, payment systems department, Reserve Bank of Zimbabwe, says: "The introduction of ZETSS (Zimbabwean Electronic Trading and Settlement System) provides us with a solid foundation for future payment systems developments and the best means of ensuring a safe and efficient payment system."

Perago says its RTGS system has also been installed at central banks in Malawi and Namibia.

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