ISLAMABAD, Nov 4 (Wealth Pakistan) — Pakistan’s financial system has entered a new digital phase with the launch of PRISM+, an upgraded Real-Time Gross Settlement (RTGS) system designed to modernise inter-bank and securities-market settlements. The platform, launched during FY2024-25, represents a major leap toward a fully digital financial infrastructure.
Record transactions and rising volumes
According to the State Bank of Pakistan’s Annual Payment Systems Review FY2024-25, PRISM+ processed 5.8 million transactions valued at PKR 1,240 trillion — nearly 11 times Pakistan’s gross domestic product. The total value marked a 19 percent increase from PKR 1,043 trillion recorded the previous year, highlighting strong growth in large-value transactions.
Around 72.5 percent of these settlements involved government-securities trades, underscoring the system’s central role in the money and bond markets.
Global standards and automation
PRISM+ adopts the ISO 20022 global messaging standard, ensuring interoperability with advanced international payment systems. It integrates the RTGS with the Central Securities Depository, allowing straight-through processing for Treasury Bills and Pakistan Investment Bonds.
The system features real-time liquidity dashboards, automated queue management, and detailed audit trails. Role-based access controls and encrypted communication further enhance operational security and data integrity.
Efficiency and liquidity management
The upgraded system enables banks to monitor their liquidity positions in real time, transfer collateral, and meet settlement obligations with greater precision. Automation has reduced manual intervention and settlement risk, while improved transparency is expected to boost institutional confidence in Pakistan’s secondary bond market.
Economists believe that PRISM+ will strengthen the backbone of Pakistan’s financial markets and enhance the efficiency of monetary-policy transmission. Real-time liquidity data will also help regulators in managing financial stress and maintaining system stability.
Expanding digital integration under Vision 2028
The State Bank plans to extend PRISM+ connectivity to non-bank financial institutions and integrate its data with Raast, Pakistan’s instant retail payment system. This linkage will allow comprehensive oversight of payment liquidity and improve the overall resilience of the financial ecosystem.
According to the central bank’s review, PRISM+ aligns Pakistan’s payment architecture with international best practices and signals the country’s readiness for a fully digital, transparent, and secure financial-market infrastructure under Vision 2028.
