Central Depository Company (CDC) has integrated the RAAST payment system with Muhammad Munir Muhammad Ahmed Khanani Securities Limited, enabling investors to transfer funds in real time. The development marks a significant step toward creating a more efficient, transparent, and digitally enabled capital market ecosystem in Pakistan.
The integration was formalized at a signing ceremony held at CDC House on August 8. The agreement was signed by Munir Khanani, CEO of Munir Khanani Securities, and Abdul Samad, COO of CDC. This initiative builds on CDC’s efforts to connect the brokerage industry with RAAST, Pakistan’s first instant payment system, which enables the immediate transfer of funds between two parties.
Acting as an aggregator, CDC facilitates seamless movement of funds from an investor’s bank account to a broker’s bank account through the RAAST system. A key feature of this integration is the issuance of a one-time RAAST Investment ID, formatted like an International Bank Account Number (IBAN) and linked directly to an investor’s sub-account. Investors can add this ID as a beneficiary within their banking portal, simplifying the process for future transactions.
Whenever a payment is made using the RAAST Investment ID, the funds are debited from the investor’s bank account and transferred into a segregated client bank account maintained by the broker. This process is completed within minutes, allowing investors to have immediate access to funds for trading activities. Brokers receive instant notifications of these transfers, ensuring that investors can act quickly on market opportunities.
CDC CEO Badiuddin Akber described the move as an example of how technology partnerships can enhance market operations. He highlighted CDC’s role in providing secure and efficient fund transfers that can boost investor participation and market depth.
Munir Khanani Securities is among the first brokerage houses to adopt this new functionality, with technology support provided by Microlinks (Pvt) Ltd. According to Munir Khanani, the integration offers clients a faster, more confident trading experience. He praised the CDC RAAST aggregator module as a state-of-the-art service and acknowledged Microlinks’ role in delivering the technology infrastructure for the initiative.
The successful rollout of this system underscores the importance of collaboration between market stakeholders, financial institutions, and technology providers. It also reflects the growing momentum toward digitization in Pakistan’s capital markets, offering investors enhanced accessibility and speed in managing their investments. With this integration now operational, investors can benefit from real-time transactions, greater efficiency, and improved market responsiveness.
