The beginning of the implementation of the Payment System Act (1 April 2002) marked the last step of the reform of the national payment system. During the reform process, the new infrastructure of payment operations was developed (the Croatian Large Value Payment System, the National Clearing System, the Unified Register of Business Entities' Accounts), the appropriate subordinate legislation was adopted, and clients' accounts were eventually transferred from the Financial Agency (formerly Croatian Payments Bureau) to banks. In this way, preconditions were created for the development of a more effective and streamlined payment system to the satisfaction of its users and the entire economic system. In addition, a payment system was built whose structure corresponds to international standards, so that in this sense it is comparable and competitive with the payment systems of the EU countries.
Payment operations are an integral part of the economic system of any country and its basic function is to enable a safe and effective use of cash as a means of payment. For this reason precisely, a successful functioning of payment operations is also of exceptional importance for the central bank, the institution responsible for the functioning of national payment system, as well as for the overall financial system. Payment operations cover a wide range of operational and technological procedures regulated by the provisions of different laws. In view of the above, the National Payment System Committee was established with the aim to improve inter-institutional cooperation in the field of the functioning and development of the national payment system. The Agreement Establishing the National Payment System Committee was concluded between the CNB, the Ministry of Finance, the Croatian Chamber of Economy (its Financial Institutions, Business Information and Economic Analyses Sector) and the Croatian Banking Association.
The main tasks of the National Payment System Committee relate to all aspects of the functioning of the national payment system. The Committee in particular:
- defines and proposes the implementation of joint measures within payment operations, aimed at ensuring uniform implementation of regulations from various fields;
- promotes the acceptance and implementation of new solutions in payment operations in order to increase the degree of its security and effectiveness;
- provides initiative to establish cooperation among institutions responsible for adopting regulations closely related to national payment system, and, where necessary, initiative to change current laws and subordinate legislation;
- monitors the development and proposes the implementation of new services in the payment system with a view to improving the relationship between banks and their clients;
- identifies difficulties in the functioning of national payment system and proposes solutions thereto;
- promotes further development of national payment system based on market principles and confronts the monopolistic interests within payment operations of any financial institution in the country, and
- proposes guidelines for the development of the national payment system in accordance with EU Directives and accepted international standards.
The National Payment System Committee has 16 members appointed by the signatories to the Agreement Establishing the National Payment System Committee.
Committee members are:
- Neven Barbaroša – Chairperson
- Ivan Biluš – Member
- Mario Maravić – Member
- Damir Blažeković – Member
- Marijan Mokos – Secretary
Ministry of Finance
- Ivana Jakir Bajo – Deputy Chairperson (Sector for Budget Execution)
- Ivana Ravlić Ivanović – Member (Financial System Sector)
- Danka Mihaljević – Member (State Treasury)
- Gordana Marić – Member (Tax Administration)
Croatian Chamber of Economy
- Vanja Dominović – Member (CCE – Financial Institutions, Business Information and Economic Analyses Sector)
- Ivana Marinović – Member (Hrvatska poštanska banka d.d.)
- Saša Turčić – Member (Kreditna banka Zagreb d.d.)
- Danijel Šplajt – Member (Croatia banka d.d.)
Croatian Banking Association
- Zoran Bohaček – Member (Croatian Banking Association)
- Ivica Jerkić – Member (Raiffeisenbank Austria d.d.)
- Vatroslav Jukić – Member (Privredna banka Zagreb d.d.)
- Nevena Stulić – Member (Zagrebačka banka d.d.)
Mode of operation of the National Payment System Committee
The Committee has its seat in Zagreb and is based at the CNB. The Committee is managed by the chairperson, appointed from among the members coming from the CNB and removed from office by the CNB. The Committee works in sessions convened and chaired by the chairperson of the Committee. The Committee's work is public and minutes of the meetings are kept.
The Committee members have the exclusive right to launch initiatives to consider certain issues and to propose items for the agendas of the Committee meetings. The Committee adopts the appropriate conclusions regarding the issues considered. These conclusions are recommendations for procedure in payment operations and are not binding. The representatives of other government institutions or other legal entities can also participate in the work of the Committee, where the members of the Committee determine that their participation contributes to the expertise and a comprehensive identification of issues to be considered, or where the Committee discusses issues in their interest.
The Committee can, where necessary, establish working groups to which it gives assignments, determines participants as well as possible competences of individual participants. Working groups meet regardless of the work of the Committee; they report to the Committee on their work and submit the proposals of final solutions, from within the scope of their assignments, to the Committee for adoption. Also, for the purpose of more effective and expert work, the Committee can establish working groups to provide the Committee members with expert opinions and suggestions regarding the solution of particular issues of interest for the Committee. In its work, the Committee does not in any way limit the statutory powers and functions of the CNB and the Ministry of Finance.