Pak-Qatar Family Takaful Limited (PQFTL) has partnered with the Central Depository Company of Pakistan Limited (CDC) to facilitate digital customer onboarding through CDC’s Raast-based IBAN-CNIC verification solution. The collaboration is intended to make the onboarding process more accessible and convenient by using a digital verification facility linked to Pakistan’s instant payment infrastructure. Pak-Qatar Family Takaful announced the partnership through a LinkedIn post, describing the arrangement as part of its efforts to improve digital accessibility and introduce technology-driven services across the insurance and Takaful sector. The collaboration brings together a family Takaful operator and a central market infrastructure institution, with the shared objective of making customer onboarding more streamlined through digital verification. Although the announcement does not provide a launch date or detailed implementation schedule, it identifies CDC’s verification solution as the technology supporting the partnership.
The solution uses IBAN-CNIC verification through Raast, allowing customer information associated with bank accounts and identity records to be checked digitally. This type of verification can support onboarding procedures by helping financial service providers confirm relevant customer details during registration. For Takaful providers, digital verification can form part of the process of registering customers and facilitating access to financial protection products. The partnership is therefore focused on an operational aspect of digital financial services rather than the launch of a new Takaful product. Pak-Qatar Family Takaful has not disclosed the specific customer categories or product lines that will initially use the facility, nor has it shared details about the number of onboarding applications expected to be processed through the solution. The announcement also does not specify whether the service will be available across all customer channels immediately or introduced in phases.
CDC’s involvement connects the collaboration with the broader use of digital verification infrastructure in Pakistan’s financial sector. Raast, developed under the State Bank of Pakistan’s payment infrastructure initiatives, supports instant digital payments and related financial services. CDC’s IBAN-CNIC verification facility provides a mechanism that institutions can use to support customer verification through digital channels. By adopting this solution, Pak-Qatar Family Takaful aims to streamline its onboarding procedures and improve the convenience of accessing its services. The company has described the partnership as part of a wider effort to promote technology-driven services in insurance and Takaful. However, the announcement does not provide technical details about system integration, verification turnaround times, data-sharing arrangements or the security controls applied during the process. Further information on these aspects would help explain how the solution will be incorporated into the company’s existing customer registration systems.
The collaboration reflects the growing use of digital infrastructure across Pakistan’s financial services industry, where institutions are exploring technology-based methods to improve customer access and operational processes. Digital onboarding can reduce reliance on manual verification steps and make registration more convenient, provided that identity checks and customer information are handled through appropriate safeguards. Pak-Qatar Family Takaful and CDC have positioned their partnership around accessibility, efficiency and convenience, with the Raast-based IBAN-CNIC facility serving as the central component. The two organisations have not announced additional services, commercial terms or specific performance targets linked to the arrangement. Nevertheless, the partnership adds another institutional use case for CDC’s digital verification solution and highlights the role of payment-linked infrastructure in supporting onboarding beyond conventional banking services.
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