The Bank of Albania offers the clearing service since 1997. Through this service, the processing of customer initiated cheques and interbank payment clearing is effected.
The system AECH
as one automated clearing system for small value payments, fully integrated with AIPS, and the net clearing position shall be settlement in the AIPS ,started operating
on July 8, 2005.
This system is based on the service provided by SWIFT-purpose use of SWIFT Net File Act service, in which file-t AECH exchanged between members of CUG in Store or Forward, and direct participants are 16 banks. This system is scheduled to participate, as indirect participants and the Ministry of Finance where its payment settlement through technical account of the Bank of Albania.
During the day, in AECH proceeds three sessions in accordance with the operating schedule. The first session started in the 8:35 am the finished in the 10:15, the secondary session starts at 10:35 and ends at 12:45, meantime the third session starts at 13:00 and ends at 15:00 . Closing day the AECH system realization after 16.15.
As regards interbank and personal cheques clearing their continues to achieve through physical exchange clearing sessions that proceed every day at 13:00 at the Bank of Albania.
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