The Central Depository Company of Pakistan Limited (CDC) and EClear Services Limited are expanding their work together to bring more Raast digital payment and investor verification options into Pakistan’s capital market, the companies said in a joint announcement dated 26 October.
The rollout sits under CDC’s Raast Aggregator framework, which connects market players to Raast — the State Bank of Pakistan’s instant payment system. EClear is set to become the first institution in the country’s stock market to use Raast Person-to-Merchant (P2M) Request to Pay Later and Dynamic QR Code payment tools.
What is being added
CDC has already introduced Raast Person-to-Person (P2P) transfers and Static QR Code services so customers of capital-market firms can move money for trading, investment and related needs. Building on that, CDC says it is the first institution to extend Raast P2M payment solutions and Raast-based IBAN-CNIC validation — checks that match a bank account number with a national identity card — to the capital market.
Under the widened partnership, EClear will take up the P2M Request to Pay Later and Dynamic QR use cases. Those options are meant to give brokers more ways to start, manage and collect payments in day-to-day operations.
How brokers and investors may use it
One possible use, according to the companies, is automating debit and margin calls for trading-only (TO) brokers that connect through EClear. That would offer an alternative to older, more manual payment-collection steps when an investor needs to top up funds against a trade or margin requirement.
CDC and EClear said linking digital payments with verification services could tighten payment-collection workflows, cut manual handling and make transactions simpler for investors and other market participants.
CDC’s path on Raast
Badiuddin Akber, CDC’s chief executive, said the company was the first capital-market institution to connect with the State Bank’s Raast system. He said CDC put Raast’s bulk-payments mechanism to work for its eDividend initiative in 2021 and has kept adding payment tools under the same framework.
Akber said CDC has already extended Raast benefits to mutual fund companies, stockbrokers and insurance firms, and that the deeper tie-up with EClear underlines a push for digital innovation and smoother operations across the market. Through the Raast Aggregator, CDC aims to let more capital-market players plug into solutions built on the central bank’s Raast rails and support a more connected investment ecosystem.
Aasan alfaaz mein
Pakistan ke stock market mein CDC aur EClear Raast ke zariye nayi digital payment services laa rahe hain. Brokers Dynamic QR aur Request to Pay Later se paisa collect kar saken ge. Is se investors ke liye trading aur margin payments thori asaan ho sakti hain. Manual kaam kam hone ki umeed hai, lekin asal asani tab hogi jab aapka broker yeh tools use kare.
