SBP to roll out PRISM+ on Aug. 19

 August 18, 2025 (MLN): The State Bank of Pakistan (SBP) will launch its upgraded payment and settlement system, PRISM+, on Aug. 19, according to confirmation from the Central Bank’s media wing to Mettis Global.

The platform, built on the global ISO 20022 messaging standard, is designed to overhaul the way money and government securities move across the financial system.

It introduces a faster Real-Time Gross Settlement (RTGS) for large-value transactions and a Central Securities Depository (CSD) for managing instruments such as treasury bills and Pakistan Investment Bonds.

PRISM+ gives banks new tools to streamline daily operations, including real-time transfer of high-value payments, scheduling of future transactions, priority-based processing, and live dashboards for balances and settlements.

The system also automates fee and invoice calculations, enhancing operational efficiency.

Through the CSD, banks can take part in primary auctions with real-time bidding and results, trade government securities in the secondary market, and manage collateral more effectively.

The system also supports open market operations, enabling SBP to inject or withdraw liquidity with instant settlement.

The platform incorporates safeguards such as role-based access, full audit trails, and real-time alerts.

Liquidity-saving mechanisms prioritize urgent payments, while dedicated reserve earmarking ensures uninterrupted settlement of critical systems like Raast, 1Link, and NCCPL.

Banks will also have access to an Intraday Liquidity Facility backed by eligible government securities.

Extended operating hours, faster handling of cancellations and returns, and streamlined cash operations at SBP’s Karachi office are among other improvements under PRISM+.

Copyright Mettis Link News