The State Bank of Pakistan (SBP) has introduced a revised reporting and settlement mechanism for Premium Prize Bonds (PPBs), requiring commercial banks to settle all sale transactions on the same day to improve operational efficiency.
Under the new framework, banks must report PPB sale transactions through the Data Acquisition Portal (DAP) within the prescribed timelines. Based on these reports, the SBP Banking Services Corporation (SBP BSC) will debit the respective bank’s account on a daily basis.
The central bank warned that banks failing to deposit sale proceeds on the same day will be charged a use of funds fee. The penalty will be calculated using the SBP’s overnight reverse repo ceiling rate for the period of delay.
According to the circular, SBP BSC’s Karachi office will calculate and recover these charges by debiting the concerned bank’s account and crediting the Central (Non-Food) Account.
The SBP further stated that banks will be fully responsible for any incorrect profit or prize money payments resulting from non-reporting, delayed reporting, or inaccurate reporting of prize bond sale, encashment, or transfer transactions, with applicable income tax adjustments made where required.
Earlier, the SBP announced new job openings for skilled professionals in Karachi. Interested candidates can apply online through the SBP careers portal.
SBP jobs 2026
The central bank is hiring for two positions. These are Deputy Director, Settlements Division (OG-3) and Innovation Hub Technologist on a contract basis. Both jobs are based in Karachi.
| Position | Maximum age | Type |
|---|---|---|
| Deputy Director, Settlements Division (OG-3) | 40 years | Regular (OG-3) |
| Innovation Hub Technologist | 40 years | Contract |
| OG-3, External Communications Department (ECD) | 40 years | Regular (OG-3) |
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Deputy Director position
For the Deputy Director position, applicants must have at least 16 years of education with a bachelor’s or master’s degree in finance, business administration, economics, computer science, or a related subject from an HEC recognised university in Pakistan or abroad.
Candidates must be 40 years of age or younger. They also need to have at least eight years of experience in RTGS operations, payment infrastructure, or core banking systems.
The bank said preference will be given to candidates who have knowledge of SWIFT, ISO 20022, T24, Oracle Financials, PRISM, incident management tools, and payment system documentation.
Innovation Hub Technologist
For the Innovation Hub Technologist position, applicants must also have 16 years of education with a bachelor’s or master’s degree in computer science, software engineering, information systems, computer engineering, systems engineering, or a related field from an HEC recognised institution.
Applicants for this position must also be 40 years old or younger and have at least five years of experience in enterprise application development or implementation.
The bank said that the candidates with skills in .NET, Java, Python, Node.js, C/C++, Oracle, SQL Server, PostgreSQL, CI/CD pipelines, test automation, and technical deployment will be preferred.
OG-3 poistion
SBP has also announced a position for an OG-3 position in its External Communications Department (ECD).
The person will be responsible for collecting and reviewing the bank’s IT requirements. Also for meeting with different departments, and helping prepare budgets and business cases for IT projects.
Applicants need to have a bachelor’s or master’s degree with at least 16 years of education in mass communication, media sciences, journalism, data analytics, finance, economics, business administration, or a related field. This also should be from an HEC recognised university.
Candidates should be 40 years of age or younger. They should also have at least 10 years of work experience.
Those who have experience covering the banking sector, financial markets, or regulatory authorities will be preferred.