KARACHI – Governor of the State Bank of Pakistan (SBP) Jameel Ahmad formally launched the Real-Time Interbank Settlement Mechanism Plus (PRISM+) System in a ceremony at the National Institute of Banking and Finance (NIBAF Pakistan) on Tuesday.
CEO’s of banks, Microfinance Institutions, Payment System Operators (PSOs), Payment Service Providers (PSPs) and senior SBP officials attended the event.
Jameel Ahmad stated that PRISM+ reflects SBP’s commitment to strengthening digital financial infrastructure in line with its Vision 2028. With PRISM+, Pakistan has become one of the few countries to adopt the ISO 20022 global messaging standard for both retail and large-value payment systems.
PRISM+ offers enhanced functionality, including structured financial messaging, improved interoperability, and greater transparency. It also introduces advanced features such as real-time liquidity management tools, transaction queuing and prioritisation, future-dated payments, and seamless integration with the Central Securities Depository (CSD) for auctions, repos, and monetary operations.
SBP Governor emphasised the strategic importance of large-value payment systems in financial markets. “With PRISM+, we are enhancing the system’s capacity and efficiency to support growing financial market needs”, he noted. He shared that Pakistan now has over 225 million bank and digital wallet accounts, with 96 million unique users. There are 28 million registered users of banking apps, 71 million branchless banking users, and 17 million internet banking users.
Mr Jameel reaffirmed SBP’s strong focus on the security and resilience of payment systems. “As we expand Pakistan’s digital infrastructure, SBP has mandated strict cybersecurity, anti-money laundering and fraud management & controls frameworks to ensure trust and transparency in the financial system”, he said.
He acknowledged the World Bank Group’s technical and financial support and appreciated the efforts of key experts and SBP teams who led the project to completion. He noted that the achievement would not have been possible without the close coordination & collaboration between SBP and stakeholders, including commercial banks, consultants, and technology partners.
He described PRISM+ as a strategic asset that will enable Pakistan’s payment systems to meet future demands, support innovation, and enhance financial stability. SBP remains committed to strengthening the financial infrastructure and building a digitally empowered and inclusive economy.
