Ten bid to service salary deposits

Jan 20, 2000

The postal monopoly Latvijas Pasta and nine commercial banks have
bid: Pirma Komercbanka, Latvijas Krajbanka, Multibanka, Hansabanka,
Parex Bank, Rietumu banka, Baltijas Tranzitu banka, Saules banka and
Unibanka.

The ministry has been assigned to undertake a survey of financial
institutions and to sign contracts on opening and servicing of
payment cards and current accounts by Jan. 30.

According to the government's instructions to the heads of state
budget institutions, from March 1 through July 1, salary payments for
state budget employees, as well as travel allowances and operational
expenditures must begin to be carried out in non-cash transactions in
Latvian district centers. In other Latvian cities and counties, the
system must be introduced between July 1 of this year and July 1,
2001.

The government assigned the head of state budget institutions to
inform employees about the new non-cash salary payment system and the
regulations.

The decree has been drawn up based on the ministry's plan of action
that includes a gradual increase in non-cash transactions in
fulfilling the state budget.

The ministry has pointed out that settlements in cash are considered
inefficient and expensive worldwide, because they are connected with
expenses in issuing new bills.

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