The National Bank of Rwanda
National Bank of Rwanda has signed a contract with CMA Small Systems AB on supply and implementation of the Rwanda Integrated Payment Processing System (RIPPS) in the scope of the county Competitiveness and Enterprise Development Project (CEDP) financed by the World Bank.
RIPPS consists of an Automated Transfer System (ATS) based on CMA’s RTS/X solution and Central Securities Depository (CSD) based on CMA’s DEPO/X solution.
The ATS is operational since February 2011 and comprises the Real Time Gross Settlement system (RTGS) used for large value and time-critical payments and the Automated Clearing House (ACH), which provides clearing and netting facilities for a range of low-value electronic instruments, including direct debits, direct credits and cheques.
The CSD is operational since July 2011 and has many participants, namely banks, brokers, Capital Market and Rwanda Stock Exchange.
RIPPS was upgraded in 2013 to enable STP linkage to Regional cross-border Payment systems: the East Africa Payment Systems (EAPS) and the COMESA Regional Payments and Settlement System (REPSS).