The Presidents/Chief Executives,
All Banks

Dear Sirs,

IMPLEMENTATION OF COUNTRY WIDE NETTING OF CLEARING RESULTS

Please refer to our letters No. RTGS/248/65-2007 and No. RTGS/282/65-2007 dated July 24, 2007 and August 13, 2007 on the captioned subject.

In this connection the country wide netting of Normal Clearing and Normal Clearing Return has been implemented successfully and the system is effectively working since August 15, 2007.

Now as a second stage of implementation, it has been decided to Go-Live with the said system for country wide netting of Same Day Clearing and Same Day Clearing Return w.e.f. August 27, 2007.

It may be remembered that till further instructions, Clearing Nets for the remaining product viz Intercity Clearing, and Inter City Clearing Return will be settled at each SBP-BSC Office as per the existing practice.

For any queries please feel free to contact PRISM Help Desk ([email protected]) or Mr. Muhammad Aslam on his email address [email protected], Phone No. 021-2453401.