The State Bank of Pakistan has issued revised operating rules for its PRISM+ system, the country’s real-time interbank payment and settlement platform, aimed at strengthening financial market infrastructure.
PRISM+ (Pakistan Real-Time Interbank Settlement Mechanism Plus) was launched on June 16, 2025, replacing the earlier system with enhanced features and a broader operational scope.
PRISM+ is the system through which banks settle large-value payments instantly with each other, making it a critical backbone of Pakistan’s financial system.
Under the latest notice, SBP has updated the operating rules after consultation with stakeholders to align the system with international best practices.
The revised framework covers key areas, including who can participate, how accounts are managed, how transactions are settled, and how system continuity is maintained.
A key upgrade in PRISM+ is the integration of the Central Securities Depository (CSD) module with the funds module, allowing more efficient handling of both money and securities transactions. The new rules will replace the earlier PRISM Operating Rules issued in 2018 and will apply to all current and future participants of the system with immediate effect.