The Role of the Central Bank in the National Payment System: Evidence for Macedonia

The significance of the payment operations manifests itself through its important role in every market economy, as a vital component of the financial infrastructure. The payment system is an infrastructure that enables the transfer of funds between entities for the performance of their mutual obligations. The payment system is the basic means for efficient implementation of the monetary policy of the central bank. The design of the payment system should basically meet the specifications of a particular country. In this paper we analyze the importance of the payment system and the role of the Central bank. At the end, we linked the public policy, Central Bank and the National Payment System and its performance for developing payment operations