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Digital payment system to help Pakistan move towards cashless economy

PM Imran Khan launched Raast on January 11

SAMAA | - Posted: Jan 14, 2021 | Last Updated: 6 days ago
SAMAA |
Posted: Jan 14, 2021 | Last Updated: 6 days ago

The State Bank recently launched Raast, an instant digital payment system, in Islamabad. Raast is part of prime minister’s vision to include poorer segments of the society into the formal economy. State Bank Director Payment System Sohail Jawad said that the system will also enable secure, efficient, and transparent financial transactions. It will enable end-to-end digital payments among individuals, businesses, and government entities instantaneously. Under the Raast digital payments initiative, instant credit of dividends from listed companies to shareholders will be initiated. In the next phase, the payment system would digitise the pensions and wages made to the government employees. Moreover, digital payments between people would also be made easier.
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