Since the issuance of PRISM Operating Rules in 2009, significant developments with regards to PRISM operations have been made including 3rd Party Fund Transfers, Straight through Processing and interbank fund transfer of home remittances etc.
2. Accordingly, State Bank of Pakistan in consultation with all stakeholders has issued the subject Rules that are aligned with International Standards and provide directions related to PRISM (RTGS) business operations. The New Rules provide detailed criteria with regard to PRISM participation access, settlement & finality, efficiency & effectiveness etc.
3. These Rules shall be applicable on all existing as well as any future participants of PRISM, and shall come into force with immediate effect.
4. In case of any queries, please contact Syed Muhammad Taha, Deputy Director, PSD, SBP, at [email protected] or Mr. Rehman Pervez, Assistant Director, PSD, SBP, at [email protected].
Please acknowledge receipt.
Encl: Annexure ‘A’ (New PRISM Operating Rules)