PRISM (Pakistan Real-time Interbank Settlement Mechanism)
System, as a part of Payment Systems reforms, was implemented
in July, 2008 by SBP with a significant initial investment
in the project. The system is working satisfactorily for
the last 2 ½ years for electronic settlement of funds
and government securities transactions.
You
will appreciate that, to keep the system efficient, it needs
to be maintained and upgraded in line with international
practices. It has, therefore, been decided in consultation
with the stakeholders to partially offset the maintenance
and future upgradation costs, a nominal service charge of
Rs 200 per transaction in PRISM System from all PRISM Direct
Participants shall be recovered with immediate effect. Levy
of service charges per transaction and their recovery will
be as under:
Sr.
No |
Transaction
Types |
Chargeability
|
1. |
All
Interbank Funds Transfers (IFTs) including Customer
Transfers
|
Remitting
Bank |
2. |
Government
Securities transactions (excluding transaction with
SBP)
|
Buyer
of Securities (Bank sending MT 541) |
Transactions
charges will be calculated & recovered on monthly basis
on the 3rd working day of following month from participant’s
current account maintained at SBP BSC (Bank) Karachi Office.
A “transactions charges recovery report” shall
also be subsequently sent to each PRISM participant for
their information and record.
Please acknowledge the receipt.