E-Newsletter Issue 8 – December 2013

CELEBRATION OF THE IMPLEMENTATION OF SIRESS

Celebrations were held at the South Africa Reserve Bank on 28 August 2013 after the successful implementation of SIRESS. The first phase of the SIRESS Payments Project, “Go Live” took place on 22 July 2013 when the CMA (Common Monetary Area) countries, Namibia, South Africa, Lesotho and Swaziland were able to transact on a real time basis for cross border payments using one currency (the ZAR). Participating banks from Namibia, South Africa and Lesotho successfully sent and received cross border payments using the SIRESS system with Swaziland following on the 23 July 2013 due to a public holiday. Central bank representatives and participants from the SADC region were in attendance at this important event.

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