May 19, 2006	Friday	Rabi-us-Sani 20, 1427

KARACHI, May 18: The State Bank has formed a high-level working group of leading banks to take care of technical problems and draw out time lines regarding the implementation of the Real Time Gross Settlement (RTGS) system in the country.

This was announced by SBP Governor Dr Shamshad Akhtar while speaking to the chief executives of banks and RTGS coordinators at a presentation ceremony held here on Thursday.

She said the group would thoroughly review the problems identified by the CEOs and RTGS coordinators and would come up with the solutions leading to the successful implementation of the RTGS system.

The SBP governor said the group would also review the roadmap for the implementation of the RTGS system in the country.

Dr Akhtar also assured the participants that the SBP would take up the relevant issues with PTCL. Both the SBP and financial industry need to prepare themselves adequately for eventual adoption of the RTGS system.