The National Payment System is one of the principal components of a country’s monetary and financial system and is, therefore, crucial to a country’s economic development, since almost all economic transactions involve some form of payment. Payment and settlement systems thus play a crucial role in a market economy, and the National Bank of Rwanda has always had a close interest in them as part of its responsibilities for monetary and financial stability.
Oversight of the payment systems is a Central Bank function as specified by the article 6, 4° of the Law N° 55/2007 of 30/11/2007 governing the Central Bank of Rwanda. The National Bank of Rwanda aims at promoting the safety and efficiency by monitoring the systems, assessing them against these objectives and, where necessary, inducing change. By overseeing payment systems, the National Bank of Rwanda helps to maintain systemic stability and reduce systemic risk, and to maintain public confidence in payment and settlement systems.