State of the art data centers for clearing services have been
established at Karachi, Lahore, Islamabad, Peshawar,
Rawalpindi, Hyderabad, Multan, Faisalabad, Quetta, D.I.Khan,
Sialkot, Gujranwala, Sukkur, Bahawalpur, Muzaffarabad, Jhelum,
Abottabad, Mirpur, Sahiwal, Sargodha, Rahim Yar Khan, Larkana, Jhang, Vehari, D.G. Khan and Nawabshah
NIFT deals, directly, with every branch in 26 major cities
and adjoining 269 Industrial and Commercial towns. Inter-
bank and intra-bank clearing (transfer delivery) has been
merged. More than 7365 bank branches avail NIFT clearing
Role of Main Branch has been abolished and Banks do not
exchange documents at the central bank. The State Bank of
Pakistan (Central Bank) does inter bank settlement based
upon reports produced by NIFT .
The clearing service includes four main services: the main
Overnight clearing, Same day - high value clearing, intercity
clearing and local US $ Dollar clearing.
Clearing Services offered by NIFT: (ID
-Inter-bank Clearing and settlement
-Intra-bank Clearing and settlement
-Advices for intra-bank and inter-bank Accounting
-Direct posting support on media for -returns and inward
-Query systems - Software and data enabling large member
banks to organize internal
-Reports and Statistics to member banks on a regular basis
-NET for Central Bank settlement.
-Compsite Net for all Clearing Services.
-Web based inward clearing reports and net position.
-Score Board showing net positions as the day progress.