The Central Depository Company (CDC) has achieved another major milestone in advancing Pakistan’s capital market infrastructure by successfully integrating the RAAST payment system into Muhammad Munir Muhammad Ahmed Khanani Securities Limited. This development enables investors to transfer funds in real time, significantly enhancing efficiency, transparency, and digital enablement in the capital market ecosystem.
The integration was marked by an agreement signing ceremony held at CDC House on Friday, 8 August 2025. The agreement was signed by Munir Khanani, Chief Executive Officer of Munir Khanani Securities, and Abdul Samad, Chief Operating Officer of CDC. The collaboration represents a key step in the adoption of technology-driven payment solutions that streamline financial transactions for market participants.
RAAST, Pakistan’s first instant payment system, facilitates immediate fund transfers between parties. By connecting with the RAAST platform, CDC has extended its payment services to the brokerage industry, functioning as an Aggregator to enable seamless fund movement from a customer’s bank account directly to a broker’s bank account.
To simplify the investor experience, CDC’s Aggregator generates a one-time RAAST Investment ID in the form of an International Bank Account Number (IBAN). This unique ID is linked to the investor’s sub-account and can be added as a beneficiary in their banking application or online portal. Whenever a payment is made using this ID, funds are instantly debited from the investor’s bank account and credited to the segregated client bank account maintained by the broker, with the broker receiving immediate notification. The process completes within minutes, ensuring that funds are ready for trading activities without delays.
Highlighting the significance of this achievement, CDC Chief Executive Officer Badiuddin Akber stated that the initiative is a demonstration of how technology partnerships can reshape market operations. He emphasized that acting as an aggregator of RAAST for brokerage accounts not only facilitates secure and efficient fund transfers but also encourages greater investor participation and market depth.
Munir Khanani Securities is among the first brokerage houses to adopt this real-time fund transfer functionality, made possible with the support of Microlinks (Pvt) Ltd. Commenting on the development, Munir Khanani expressed that the integration allows clients immediate access to their funds for trading, enabling them to take advantage of market opportunities more swiftly. He praised the CDC RAAST Aggregator module as a state-of-the-art solution and acknowledged Microlinks as an important technology partner in implementing this service.
The live integration of RAAST within brokerage operations reflects the growing importance of digital transformation in Pakistan’s financial sector. By fostering collaboration between financial institutions, regulators, and technology partners, initiatives like this not only improve operational efficiency but also promote accessibility, accelerate transaction processing, and strengthen the overall market framework. This step by CDC and Munir Khanani Securities is expected to inspire further adoption of real-time payment systems in the capital market, reinforcing Pakistan’s transition towards a more agile and investor-friendly financial environment.
