The Central Depository Company of Pakistan Limited (CDC) and EClear Services Limited are expanding their collaboration to bring new digital payment and investor verification services to Pakistan’s capital market through the State Bank of Pakistan’s Raast system — the country’s instant payment network.
Under CDC’s Raast Aggregator framework, EClear is set to become the first institution in the stock market to adopt Raast Person-to-Merchant (P2M) Request to Pay Later and Dynamic QR Code payment services. The companies say the tools are meant to make it easier to start, manage and collect payments across brokerage work.
What is being added
The new steps build on services CDC already runs for capital-market customers: Raast Person-to-Person (P2P) transfers and Static QR Code payments, which let people move money for trading, investment and related needs. CDC has also rolled out Raast-based IBAN-CNIC validation, which checks that a bank account number matches a national identity card.
CDC says it is the first institution to extend Raast P2M payment solutions and those IBAN-CNIC checks to the capital market. EClear’s adoption of Request to Pay Later and Dynamic QR is presented as the next practical use of that infrastructure on the Pakistan Stock Exchange side of the market.
One application described in the companies’ account is software that can automate debit and margin calls for Trading Only (TO) brokers connected to EClear. That is offered as a less manual alternative to conventional payment collection.
What CDC’s chief executive said
CDC Chief Executive Officer Badiuddin Akber said CDC was the first capital-market institution to link with Raast and that it introduced bulk payments for its eDividend programme in 2021 — described as Raast’s first use case of that kind for the company.
He said CDC has kept adding Raast-based options for mutual fund companies, stockbrokers and insurance companies. On the EClear expansion, he said the wider tie-up “further reinforces our commitment to driving digital innovation and efficiency across Pakistan’s capital market.”
Through the Raast Aggregator framework, CDC says it aims to widen digital payment options for market participants by using the State Bank’s Raast infrastructure.
Timeline: what has happened so far
- 2021: CDC connects to Raast and implements bulk payments for its eDividend initiative.
- Earlier phase: CDC rolls out Raast Person-to-Person transfers and Static QR Code services for capital-market customers, plus Raast-based IBAN-CNIC validation.
- 26 October 2026: CDC and EClear announce an expanded collaboration so EClear can adopt Raast P2M Request to Pay Later and Dynamic QR Code payments under the Raast Aggregator framework.
Aasan alfaaz mein
CDC aur EClear mil kar stock market ke liye Raast pe naye digital payment tools la rahe hain. EClear pehle stock-market idare ke tor pe Request to Pay Later aur Dynamic QR use karega. Brokers ke debit aur margin calls zyada automatic ho sakte hain. Investors ke liye fund transfer aur payment collection asaan hone ka irada hai.
