The State Bank of Pakistan (SBP) is set to launch its upgraded payment and settlement system, PRISM+, today [Tuesday], aiming to strengthen the country’s financial ecosystem.
PRISM+ marks a significant upgrade in Pakistan’s financial infrastructure, modernising the movement of money and government securities. The system adheres to the global ISO messaging standard, used widely in advanced financial systems worldwide.
PRISM+ comprises two key components: a faster Real-Time Gross Settlement (RTGS) system for large payments, and a new Central Securities Depository (CSD) for managing government securities such as Treasury Bills and Pakistan Investment Bonds.
The new system offers improved banking tools, including real-time transfers, future payment scheduling, priority-based processing, live dashboards showing balances, and automatic fee calculations.
Additionally, the CSD allows banks to manage government bonds more effectively, offering real-time auction results and quicker settlements in the secondary market.
PRISM+ will also support the SBP’s open market operations, ensuring smoother liquidity management and settlement of transactions. The system enhances security and transparency in the financial process.
The SBP emphasizes that PRISM+ will make Pakistan’s financial system faster, safer, and more efficient, improving the handling of payments, liquidity, and securities transactions while reducing risks.
