Regulatory Alerts2026-04-16 | DI&SD Circular No 01Operating Rules for PRISM+ (Pakistan Real-time Interbank Settlement Mechanism Plus)
These operating rules establish the comprehensive framework for the PRISM+ system, governing its participation, messaging, settlement processes, and risk management protocols for both funds and Government Securities. The document mandates strict compliance with SBP technical and operational requirements, including mandatory system certification, secure message signing, and liquidity maintenance across Settlement and Reserve Accounts. It further delineates procedures for gridlock resolution, business continuity, penalty conditions for non-compliance, and the integration of the Central Securities Depository module for auctions and secondary market transactions.
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