The State Bank of Pakistan (SBP) has officially launched “PRISM Plus”, a modern real-time interbank payment settlement system, marking a new era in the country’s digital banking sector. Governor Jameel Ahmed announced the system at a ceremony in Karachi, attended by senior SBP officials, banking industry leaders, and representatives from global financial institutions.
According to the Governor, PRISM Plus is designed to improve transparency, security, and efficiency in financial transactions. He revealed that under the previous version of PRISM, transactions worth PKR 1,043 trillion were processed last year—almost 10 times Pakistan’s GDP. The largest share was in government securities transactions valued at PKR 730 trillion, while 91% of the transactions, in terms of volume, came from third-party customer transfers.
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Governor Ahmed also highlighted the rapid growth of digital banking in Pakistan. Currently, there are 28 million mobile banking users, 71 million branchless banking customers, and 17 million internet banking users, showing the increasing acceptance of digital transformation.
Built on the international ISO 20022 standard, PRISM Plus offers new features such as liquidity management tools, scheduled payments, and integration with the Central Securities Depository. These upgrades will make auctions, collateral management, and open market operations more efficient.
The project, developed with the technical support of the World Bank Group, has been described as a revolutionary step for Pakistan’s financial and business community. Within just 14 months, PRISM Plus has already delivered impressive results. Commercial banks also played an active role in supporting this system.
Governor Ahmed further added that Pakistan’s payment system is now competitive at the global level. Security remains a top priority for regulators to ensure safe digital transactions. With 225 million bank accounts and digital wallets, including 96 million unique account holders, Pakistan is steadily moving toward a stronger and more inclusive digital economy.
FAQs
1. What is PRISM Plus?
PRISM Plus is Pakistan’s new real-time interbank payment settlement system launched by the State Bank.
2. Why is PRISM Plus important?
It enhances transparency, security, and efficiency in financial transactions while supporting digital growth.
3. How many people in Pakistan use digital banking?
Around 28 million use mobile banking, 71 million use branchless banking, and 17 million use internet banking.
4. Who supported the development of PRISM Plus?
The World Bank provided technical support, while commercial banks contributed actively.
5. What global standard does PRISM Plus follow?
It is based on ISO 20022, an international standard for secure and transparent financial messaging.
