BoU Introduces Faster Cheque Clearing System

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Bank of Uganda is this week rolling out its newly upgraded Electronic Clearing System that will see a 12 hour clearance of interbank cheques.

While speaking at a system integration dialogue targeting government agencies, Bank of Uganda’s Director for IT Richard Muyeebo, said the new system will enable data sharing and broaden access and usage by the public.

“Right now we are in our project of the automated clearing house which we think will improve the turn-around time for interbank payments,” Muyeebo said.

One of the direct beneficiaries of system convergence is the National Social Security Fund (NSSF).

The National Information and Technology Authority of Uganda NITAU, is vowing to ensure ministries, departments and agencies of government alongside the private sector shape up on their operations and deliver better around online services.

RedPepper.co.ug

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