Regulatory Alerts2026-04-16 | DI&SD Circular No. 1 of 2026Added · Updated
Operating Rules for Pakistan Real-Time Interbank Settlement Mechanism Plus (PRISM+)
The State Bank of Pakistan establishes the operating rules for the Pakistan Real-time Interbank Settlement Mechanism Plus (PRISM+), governing both its Funds Module and Central Securities Depository (CSD) Module. The document defines participant eligibility, membership categories, account structures, and liquidity reserve requirements for financial institutions. It mandates specific protocols for payment processing, message standards, queue management, gridlock resolution, and settlement finality. Additionally, it outlines operational guidelines for government securities auctions, open market operations, and corridor facilities within the PRISM+ infrastructure.
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