In a milestone for Pakistan’s capital market, the Central Depository Company (CDC) has successfully integrated the RAAST payment system into Muhammad Munir Muhammad Ahmed Khanani Securities Limited, enabling real-time investor fund transfers. This breakthrough marks a step forward in building a more responsive, transparent, and digitally empowered capital market ecosystem.
To commemorate this milestone, an agreement signing ceremony was held at CDC House on Friday, 8 August, where the agreement was formally signed by Mr. Munir Khanani, Chief Executive Officer of Munir Khanani Securities, and Mr. Abdul Samad, Chief Operating Officer CDC.
RAAST is Pakistan’s first instant payment system that enables instantaneous movement of funds between two parties. CDC took the initiative to build connectivity with the RAAST system and extended its novel payment mechanisms to the Brokerage Industry. At the heart of this process is the role of CDC as an Aggregator to facilitate seamless transfer of funds from customer bank account to Broker bank account.
To make the process even simpler for investors, the CDC Aggregator generates a one-time RAAST Investment ID that is in the format of an International Bank Account Number (IBAN) and is linked to the customer’s Sub-Account. This RAAST Investment ID can be added as a beneficiary in the customer’s banking portal. Every time a customer makes a payment through this ID, the required funds are debited from the customer’s bank account and transferred to the segregated client bank account maintained with the Broker via the CDC RAAST Aggregator, and the Broker is informed accordingly. The whole process takes only a few minutes, making the funds available for trading activities on a real-time basis.
“This initiative is a clear demonstration of how technology partnerships can reshape market operations,” said Badiuddin Akber, CEO of CDC. “CDC is proud to act as an aggregator of RAAST for brokerage accounts, facilitating secure and efficient fund movement that supports greater investor participation and market depth.”
As one of the first brokerage houses to adopt this functionality — made possible with support from Microlinks (Pvt) Ltd — Munir Khanani Securities is setting a precedent for enhanced investor experience. “Our clients now have immediate access to their funds for trading, allowing them to capitalize on market opportunities with greater speed and confidence. CDC RAAST aggregator module is a state-of-the-art service. We are also glad to have Microlinks on board as our technology partner for this initiative,” said Munir Khanani, CEO of Munir Khanani Securities.
This integration, now fully live, illustrates the power of collaboration in driving meaningful digital transformation and reaffirms the industry’s shared commitment to expanding access, accelerating transactions, and deepening Pakistan’s capital market.
