Page 12 - Payment System Review -Q2 FY24

Large-Value Payments

Large-Value Payments in Pakistan are settled through Real-Time Gross Settlement (RTGS) system
named as Pakistan Real-time Interbank Settlement Mechanism (PRISM) System which is operated and

managed by State Bank of Pakistan (SBP). RTGS system is defined as a gross settlement system in
which both processing and final settlement of funds transfer instructions take place in real-time.

PRISM system provides a central platform for the settlement of large-value interbank funds transfers,
Government Securities, retail clearing and customer transfers (over a certain minimum amount limit).

At present, there are 59 PRISM participants of which 46 are banks (with Islamic banking windows
counted separately), 9 are DFIs, and 4 are non-banking entities or special participants.

During the quarter Q2 of FY24, a total of
1.5 million transactions amounting to PKR

272.7 trillion were settled through PRISM
which included settlement of government

securities, funds transfers and ancillary
clearing transactions. Major chunk of the

number of transactions were funds
transfers (97.8%) followed by settlement

of government securities (1.7%) and

ancillary clearing (0.5%). By value, total
transactions comprised 70.0% of
government securities settlements,

28.9% fund transfer transactions and remaining 1.1% settlement of ancillary clearing transactions.

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