The Presidents/Chief Executives (Banks/DFIs),
All RTGS Direct Participants.

Dear Sirs/Madam,

SETTLEMENT OF 3rd PARTY FUND TRANSFERS THROUGH PRISM SYSTEM

In order to further enhance the payment transfer facilities through PRISM System, it has been decided to allow multiple credit transfers (using MT 102) for 3rd party transfers with immediate effect, subject to following terms and conditions:

1. The lower value limit for each credit transfer in MT 102 shall be PKR 100,000.
2. Maximum 10 payment instructions are allowed to be sent through one MT 102 message.
3. The transaction time and charges for each payment instruction within a single MT 102 will be as follows:-

Days	Timings	Charges (PKR)
Monday to Friday	9:00AM to 4:30 PM	25/- per instruction-

4. All inclusive transaction charges recovered by banks/DFIs from their customers for each payment instruction sent using MT 102 shall not exceed Rs 50/-.

However, MT 103 may continue to be used for 3rd party time critical single credit transfers attracting charges as outlined in PSD circular letter no. 5 dated October 14, 2011.

All PRISM Direct Participants are further advised to ensure compliance with the Customer Transfer Guidelines, Payment Systems and Electronic Fund Transfers Act 2007, PRISM Operating Rules, 2009 and all other applicable SBP rules and regulations including those related to KYC and AML/CFT.

All other instructions on the subject shall, however, remain unchanged.

Please acknowledge receipt.