The State Bank of Pakistan has introduced revised operating rules for its real-time payment platform, PRISM+, in a move aimed at enhancing the country’s financial market infrastructure. The update reflects the central bank’s ongoing efforts to modernize payment systems and improve efficiency in interbank transactions.
Launched on June 16, 2025, PRISM+ replaced the earlier settlement mechanism with upgraded features and expanded functionality. The system plays a vital role in Pakistan’s banking ecosystem by enabling instant settlement of large-value transactions between financial institutions.
With the latest revisions, the central bank seeks to strengthen operational resilience, risk management, and transparency within the system. Updated rules are expected to provide clearer guidelines for participating banks, ensuring smoother and more secure processing of payments.
PRISM+ serves as the backbone for high-value interbank transfers, allowing banks to settle obligations in real time rather than through delayed batch processing. This significantly reduces settlement risk and improves liquidity management across the financial sector.
The move aligns with global trends, where central banks are increasingly focusing on real-time payment systems to support economic activity and financial stability. By refining PRISM+ operations, the State Bank aims to keep Pakistan’s financial infrastructure in line with international standards.
Financial experts note that robust payment systems are essential for maintaining trust in the banking sector. Enhancements to PRISM+ could also facilitate faster transactions for corporate clients and government operations, further streamlining the overall financial ecosystem.
As digital transformation continues to reshape banking, initiatives like PRISM+ highlight Pakistan’s commitment to adopting advanced financial technologies. The revised framework is expected to support long-term growth by ensuring secure, efficient, and reliable payment processing nationwide.
