Instant fund transfers: Arif Habib Ltd joins CDC’s RAAST aggregator platform

KARACHI: The Central Depository Company of Pakistan (CDC) has on boarded Arif Habib Limited to its RAAST Aggregator platform, enabling real-time fund transfers for investors in a move aimed at accelerating digital transformation in the capital market.

The signing ceremony was held at CDC House, where CDC Chief Executive Officer Badiuddin Akber and Arif Habib Limited Chief Executive Officer Shahid Ali Habib formally sealed the partnership. Catalyst IT Solutions provided technological support for the integration.

The RAAST Aggregator assigns each investor’s sub-account a unique RAAST Investment ID, structured as an IBAN. Once registered as a beneficiary with the investor’s bank, the system allows funds to be transferred directly into the broker’s client account. Transactions are settled within minutes, making funds available for trading almost instantly.

CDC CEO Badiuddin Akber said the integration represented a milestone in fund transfers, offering speed, security and responsiveness to meet the evolving needs of the capital market. Arif Habib Limited CEO Shahid Ali Habib noted that the initiative aligned with the company’s focus on innovation and investor service, adding that it would enhance convenience and confidence for clients.

Arif Habib Limited becomes the latest brokerage house to join the RAAST Aggregator platform, following integrations with Muhammad Munir Muhammad Ahmed Khanani Securities, AKD Securities, Chase Securities, EClear Services Limited, Zahid Latif Khan Securities, and Standard Capital Securities. CDC said more brokerages are expected to be on boarded in the near future, further enhancing investor convenience and trust in Pakistan’s financial ecosystem.

Copyright Business Recorder, 2025