How to replace place holders in an SMS template in PHP

sms_placeholder_parser.php

<?php

$msg = 'Dear {{BNAME}}, your loan of KES {{AMOUNT}} has been fully repaid.';

function wrap($str)
{
  return "{{{$str}}}";
}

function parse($msg,array $placeholders)
{ 
  foreach($placeholders as $k => $v){
      if(!strstr($msg,wrap($k))) {
           throw new Exception("Unable to parse template - $k is not present.");
      }
      $msg = strtr($msg, [ wrap($k) => $v]);
  }

    $matches = [];
    $pattern = "/".preg_quote("{{").".*?".preg_quote("}}")."/";
    preg_match($pattern, $msg, $matches);
    if (count($matches) > 0) {
        throw new Exception("Could not find a replacement for ".$matches[0], 1);
    }
  return $msg;
}

try{
    echo parse($msg,[
        'BNAME' => 'Nimrod',
        'AMOUNT' => number_format(1000,0),
        //'AMOUN' => number_format(1000,0),
        //'Other' => 'sdfefe'
        ]);
}
catch(Exception $e){
    echo $e->getMessage();
}