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Managment Control System

In: Business and Management

Submitted By TSEGYAE
Words 27170
Pages 109
National Bank of Ethiopia
MODERNIZATION OF THE NATIONAL PAYMENT SYSTEM IN ETHIOPIA
Part 3
Vision and Strategic
Framework
May 2009
Jan Woltjer
Consultant on payments and securities settlement
Leila Elmasry and Vladislav Babin (IT-consultants)
Version 6 05-25-09 i CONTENTS
1 Introduction 1
2 Mission Statement and Vision 3
3 Guiding Principles 5
4 Main Strategies 9
4.1
Risk reduction 9
4.2
Enlargement of access to banking and payment services 14
4.3
Enlargement of electronic networks of individual banks and interoperability 17
5 Business Process Modeling and Architecture of the New NPS 19
5.1 The central role of electronic data exchange in the new NPS 19
5.2 Centralized clearing of large value payments 21
5.3 Centralized versus decentralized clearing of retail payment instruments other than cheques 22
5.4 Centralized versus decentralized clearing of cheques 24
5.5
Overall architecture of the NPS 25
5.6
The NPS communication network 31
6 Outline of the Strategic Plan 38
6.1
Core elements of the strategic plan 38
6.2
Systems and facilities to be acquired 39
6.3
Efficient use of modern technology to reduce investment costs and to avoid possible underutilization of the systems 39
7 Working out of the Core Elements 43
7.1
Development of a legal framework and physical infrastructure that will
Support the new NPS 43
7.2
The communication network 46
7.3
The infrastructure for large value and time critical payments 48
7.4
Payment instrument mix and access to payment services 52
7.5
The upgrading of the systems for payment processing of commercial banks and connection of branches to the head office 54
7.6
The infrastructure for clearing and settlement of retail payments 55
7.7
Cross border payments 60
7.8
The infrastructure for the clearing and settlement of securities 62
7.9
The oversight framework 67
8 Phasing and…...

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