PRISM+ to Launch Tomorrow for Faster Payments

Islamabad, August 18, 2025, 06:24 PM PKT — The State Bank of Pakistan (SBP) is poised to revolutionize finance, set to unveil its upgraded payment and settlement system, PRISM+, on August 19, as confirmed by the Central Bank’s media wing, per official reports. Built on the global ISO 20022 messaging standard, PRISM+ introduces a faster Real-Time Gross Settlement (RTGS) system for high-value transactions and a Central Securities Depository (CSD) for treasury bills and Pakistan Investment Bonds, transforming money and government securities movement. Banks gain cutting-edge tools—real-time transfers, future transaction scheduling, priority processing, live dashboards, and automated fee calculations—boosting operational efficiency.

The CSD enables real-time primary auctions, secondary market trading, and enhanced collateral management, while supporting open market operations for instant liquidity adjustments by SBP. Security features include role-based access controls, full audit trails, and real-time alerts, with liquidity-saving mechanisms prioritizing urgent payments and reserves backing critical systems like Raast, 1Link, and NCCPL. Banks access an Intraday Liquidity Facility with government securities, plus extended hours, faster cancellations, and streamlined cash operations at SBP’s Karachi office. Web context on payment systems shows past delays, while posts found on X reflect anticipation mixed with caution—some cheer modernization, others question rollout. Critically, the narrative of “financial upgrade” may mask technical risks—web data hints at implementation hurdles, and X sentiment suggests distrust in flawless execution, pointing to potential challenges.