SBP issues new PRISM+ operating rules

April 17, 2026 (MLN): The State Bank of Pakistan has formally issued revised Operating Rules for the Pakistan Real-Time Interbank Settlement Mechanism Plus (PRISM+), strengthening the country’s financial market infrastructure and aligning it with international best practices.

According to an official notice addressed to Presidents and Chief Executive Officers of all PRISM+ participants, the central bank highlighted that PRISM+, Pakistan’s upgraded Real-Time Gross Settlement (RTGS) system, was introduced on June 16, 2025.

The system not only introduces enhanced functionalities but also expands its operational scope by integrating the Central Securities Depository (CSD) module with the funds module, enabling more efficient and comprehensive settlement operations.

Following consultations with relevant stakeholders, the SBP has comprehensively revised the PRISM+ Operating Rules to show the updated system features and evolving requirements.

The revised framework governs all key aspects of PRISM+ operations, including participation criteria, CSD operations, account management, settlement and finality, as well as efficiency, effectiveness, and operational continuity.

The central bank stated that the newly issued rules supersede the earlier PRISM Operating Rules circulated through PSD Circularof 2018 and will be applicable to all existing and future participants of PRISM+. The updated rules have come into force with immediate effect.

In case of any queries, participants have been advised to contact the Settlement Division of the Digital Innovation & Settlements Department, while all recipients have also been requested to acknowledge receipt of the communication.

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