SBP to launch Pakistan Express Clearing System
The State Bank of Pakistan (SBP) has decided to introduce the Pakistan Express Clearing System (PECS), under which cheques will be cleared on the basis of captured images instead of physical instruments, with the pilot phase starting on October 15, 2
October 06, 2026 (MLN): The State Bank of Pakistan (SBP) has decided to introduce the Pakistan Express Clearing System (PECS), under which cheques will be cleared on the basis of captured images instead of physical instruments, with the pilot phase starting on October 15, 2026 and nationwide coverage to be completed by April 30, 2027. In a circular issued to all clearinghouse (NIFT) members, the central bank said th...