CDC is the sole securities depository in Pakistan, while NIFT is one of the country’s main payment processors.
The Central Depository Company (CDC) and the National Institutional Facilitation Technologies (NIFT) have agreed to use NIFT ePay to facilitate digital payments. Investors will be able to use NIFT ePay services to invest in Mutual Funds via CDC’s digital platform “Emlaak Financials” as a result of this agreement. Additionally, the solution will allow CDC’s IAS account holders to make IAS payments through the CDC Access portal.
Mr. Haider Wahab, CEO of NIFT, and Mr. Badiuddin Akber, CEO of CDC, signed the agreement at the Central Depository Company’s headquarters (CDC).
“We are thrilled to be a part of CDC’s newly established programme for the Mutual Fund Industry,” said Haider Wahab, CEO of NIFT. We recognise that the “Emlaak Financials” platform has a bright future ahead of it, and we are excited to play a part in enabling the platform and making this service a success. NIFT will continue to focus on partnering for distinctive and new concepts that help accelerate Pakistan’s digital transformation.”
“As we commence on this collaboration with NIFT, it brings us enormous joy that we are engaging NIFT’s payment gateway for the first of its kind mutual fund aggregator platform being launched in the financial landscape of Pakistan,” stated Mr. Badiuddin Akber, CEO of CDC, at the signing ceremony. The development of this platform, as well as its integration with NIFT’s services to enable secure and quick payments for mutual fund investors, is in keeping with CDC’s goal of improving efficiency and making conducting business easier.”
