Tag: State Bank of Pakistan

The SBP Quarterly Payment Systems Report reveals a massive shift toward a cashless economy with digital transactions reaching 92 percent of the retail total.

Zindigi partners with SBP to digitize Lahore’s Liberty Market, introducing Raast QR payments to empower merchants and drive Pakistan toward a cashless economy.

Federal Finance Minister Muhammad Aurangzeb announces the expansion of the Roshan Digital Account to foreign nationals and companies to boost international investment.

Raqami Islamic Digital Bank Limited achieves AA/A1 ratings from VIS Credit Rating Company signaling strong stability for Pakistans first Shariah compliant digital retail bank.

Pakistan’s National Assembly approves the Virtual Assets Bill 2026, establishing a regulatory authority to oversee digital currencies, virtual asset services, and compliance with international financial standards.

Safepay announces general availability of Raast, enabling real-time bank transfers with instant confirmation, automated reconciliation, and seamless API integration for merchants across Pakistan.

Pakistan is repositioning finance as a driver of inclusive growth through credit guarantees, SME and agriculture lending, women entrepreneur support, housing finance, and workforce development initiatives like the State Bank of Pakistan’s targeted risk sharing and skill financing measures, aiming to embed capital directly into the real economy and expand long term economic participation.

Pakistan’s finance ministry teams up with Visa to digitize government payments, enhance financial inclusion, and support cashless transactions as part of ongoing economic reforms.

The State Bank of Pakistan has shortlisted six local and international firms to pilot innovative digital financial solutions under its Regulatory Sandbox initiative, aimed at strengthening Pakistan’s fintech ecosystem.

Pakistan’s instant digital payment platform RAAST has processed over Rs. 80 trillion in transactions, connecting 48 million users and 53 financial institutions, enhancing financial inclusion and promoting a cashless economy.

An in-depth analysis of Pakistan’s new digital finance framework following the Virtual Assets Ordinance 2025, examining how the Pakistan Virtual Asset Regulatory Authority and the State Bank of Pakistan aim to balance innovation with oversight, strengthen consumer protection, and build trust in cryptocurrencies, tokenized assets, and virtual asset service providers.

Allied Bank introduces Pakistan’s first RAAST-enabled Cash Deposit Machines, enabling instant, interoperable cash deposits into any bank account. This innovation enhances convenience, accelerates the transition toward a cashless economy, and supports financial inclusion across the country.