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Raast

Raast: Rolling the dice
Opinion

Raast: Rolling the dice

Raast clearly has the potential to revolutionize banking in Pakistan. It is a backend plumbing that would allow...
Published 17 Jan, 2021 04:13am
What is Raast? An Explainer
Perspectives

What is Raast? An Explainer

  • Lately there has been a lot of chatter regarding launch of a payment interface by the Central Bank, which has aptly been branded as ‘Raast’, and is being heralded as the ultimate solution to all payment related problems.
  • If built, and leveraged well, ‘Raast’ can truly catalyse a paradigm shift regarding how transactions are executed in the country, enabling hefty economic dividends in the process.
Updated 13 Jan, 2021 11:40am
PM launches Pakistan's first instant Digital Payment System 'Raast'
Business & Finance

PM launches Pakistan's first instant Digital Payment System 'Raast'

  • Use of cash promotes informal economy and helps illegal activities, on the other hand by using the Raast one is doing the right thing by transacting using formal digital Financial Service and contributing to Pakistan's economy.
  • SBP along with Karandaaz Pakistan has developed this new system for processing instant payments.
  • The Prime Minister in his address said a cash-based economy is the biggest hurdle in tapping the true potential of Pakistan.
Updated 11 Jan, 2021 06:17pm