Pakistan to pilot new cheque-clearing system from 15 October
The central bank said the Pakistan Express Clearing System will process cheque images instead of moving physical instruments.
Event / data period: 2026-10-05
Published: · Updated:
The State Bank of Pakistan issued implementation instructions for the Pakistan Express Clearing System (PECS) on 5 October. The system will clear cheques using captured images: the presenting bank sends an image to clearing house NIFT, which forwards it to the paying bank.
The circular schedules the pilot to begin on 15 October 2026 and nationwide completion by 30 April 2027. These are the central bank’s planned milestones and do not mean the service is already operating at every institution.
Data
Source-reported details
Information published in the primary source.
| Pilot start | 15 October 2026 |
| Planned nationwide completion | 30 April 2027 |
| Clearing method | Image-based cheque truncation |
| Clearing house named | NIFT |
Methodology
Concise account of source-reported information; independent verification is not implied.
Updated:
Subjects and places
Subject proposals
- Economy, business and financeSuggested
- Preserved editorial category/topic; broad candidate onlywww.sbp.org.pk ↗
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- Pakistan · Place role: Coverage · Place type: Country or area · Location precision: RegionalEvidence
- Explicit preserved editorial country/region; no city or national centroid inferredwww.sbp.org.pk ↗