The State Bank of Pakistan has released updated operating rules for PRISM+, its real-time interbank payment and settlement system. The changes aim to strengthen the country’s financial infrastructure and improve system reliability.
PRISM+, short for Pakistan Real-Time Interbank Settlement Mechanism Plus, went live on June 16, 2025. It replaced the earlier platform with wider capabilities and improved performance.
The system allows banks to settle large-value payments instantly, making it a core part of Pakistan’s banking network.
After discussions with industry participants, the central bank revised the rules to match global standards. The updated framework sets clear terms for participation, account handling, transaction settlement, and system continuity.
One major update links the Central Securities Depository module with the funds module. This connection supports smoother processing of both cash and securities transactions.
The new rules replace the PRISM framework introduced in 2018. They take effect immediately and apply to all existing and future participants.
