KARACHI: Pakistan’s capital market took a significant digital leap on Friday as the Central Depository Company of Pakistan Limited (CDC) integrated the State Bank’s RAAST payment system with Muhammad Munir Muhammad Ahmed Khanani Securities Limited, enabling investors to transfer funds to their brokerage accounts in real time.
The milestone was marked with an agreement signing ceremony at CDC House, attended by senior executives from both organizations. The agreement was formally signed by Munir Khanani, Chief Executive Officer of Munir Khanani Securities, and Abdul Samad, Chief Operating Officer of CDC.
RAAST, Pakistan’s first instant payment system, facilitates the swift and secure movement of funds between two parties. Acting as an aggregator for brokerage accounts, CDC’s new integration enables investors to seamlessly transfer money from their bank accounts to their broker’s segregated client account within minutes, eliminating traditional processing delays.
The system generates a one-time RAAST Investment ID — in the format of an International Bank Account Number (IBAN) — linked to an investor’s sub-account. Once added as a beneficiary in a customer’s banking portal, payments made to this ID are instantly routed through the CDC RAAST Aggregator, with brokers notified immediately and funds becoming available for trading on a real-time basis.
“This initiative is a clear demonstration of how technology partnerships can reshape market operations,” said Badiuddin Akber, CEO of CDC. “CDC is proud to act as an aggregator of RAAST for brokerage accounts, facilitating secure and efficient fund movement that supports greater investor participation and market depth.”
Munir Khanani Securities, among the first brokerage houses to adopt this functionality with the support of Microlinks (Pvt) Ltd, said the integration would give clients a sharper competitive edge in the market. “Our clients now have immediate access to their funds for trading, allowing them to capitalize on opportunities with greater speed and confidence,” said Munir Khanani, CEO of the firm.
The CDC said the launch reaffirms the industry’s commitment to expanding digital access, accelerating transactions, and fostering deeper market participation in Pakistan’s capital markets.
Copyright Business Recorder, 2025
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