Karachi: The State Bank of Pakistan (SBP) launched its upgraded payment and settlement system, PRISM+, on Tuesday, introducing a faster and more secure mechanism for handling transactions and government securities.
The new system modernises Pakistan’s financial infrastructure by aligning it with global ISO messaging standards used in advanced economies. It comprises two major components: a Real-Time Gross Settlement (RTGS) system for high-value payments and a Central Securities Depository (CSD) to manage Treasury Bills and Pakistan Investment Bonds.
According to the SBP, PRISM+ will enable banks to process real-time transfers, schedule payments, and prioritise transactions more effectively. It also provides live dashboards for account balances, automatic fee calculations, and enhanced security checks to reduce systemic risks.
The CSD feature allows banks to access real-time government bond auction results, settle trades more quickly in the secondary market, and streamline participation in SBP’s open market operations. Officials said the system will improve liquidity management while enhancing transparency across financial markets.
“PRISM+ will make Pakistan’s financial system faster, safer, and more efficient,” the SBP noted, adding that the upgrade will strengthen the handling of payments and securities transactions while reducing operational risks.
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