A second “Payment Systems Development Committee” meeting was convened on the 27th September. According to the Chairman of the Committee, Vice-President of the National Bank of Georgia George Glonti, the goal of the business of this structure is to reduce  the  price of the service rendered to the final customer and ensure its availability. Low cost value of service and high level of reliability is vitally important for financial systems of the country.   The Committee considered the issues of the Agenda, in particular, draft strategic plan for development of banking system of Georgia up to 2008, amendments to some normative acts and use of SWIFT technologies in clearing system.   The main strategic directions of payment systems development plan provide for expansion of plastic card services (progressive tool of payment) and drawing up of their statistic reporting, and arrangement of normative and legal basis of payment systems in 2005-2008.   At this meeting the Payment Systems Development Committee considered the final versions of draft provisions of “Non-cash payment procedures in Georgia” and “Payment Transactions by Payment Plastic Cards”, which will be soon submitted to the Ministry of Justice for approval. The Committee also discussed the issues of creation of a clearing house in the National Bank. Commercial banks will cooperate with this clearing house via SWIFT network.   Payment Systems Development Committee of Georgia consists of the specialists of the National Bank of Georgia, commercial banks, Stock Exchange and Interbank Foreign Exchange, Treasury and Tax Services of the Ministry of Finance of Georgia, and the relevant structures of Georgian Card and Financial Corporation UFC.