Central Depository Company of Pakistan Limited (CDC) and EClear Services Limited are expanding their collaboration to bring more digital payment and investor verification services to Pakistan’s capital market, under CDC’s Raast Aggregator framework. The expansion was reported on 26 October 2026.
What happened?
CDC has already put Raast Person-to-Person (P2P) payments and Static QR Code services in place for capital market customers, allowing them to transfer funds for trading, investment and other purposes. Building on that, CDC has now extended Raast Person-to-Merchant (P2M) payments and Raast-based IBAN-CNIC validation services to the capital market, becoming the first institution to extend these services to the sector. EClear Services plans to become the first institution in Pakistan’s stock market to adopt Raast P2M Request to Pay Later (RTPL) and Dynamic QR Code solutions.
Key details:
- New services: Raast Person-to-Merchant (P2M) payments and Raast-based IBAN-CNIC validation
- Planned by EClear Services: Raast P2M Request to Pay Later (RTPL) and Dynamic QR Code solutions
- Already in place: Raast Person-to-Person (P2P) payments and Static QR Code services
- Framework: CDC’s Raast Aggregator framework, using the State Bank of Pakistan’s Raast instant payment system
- Possible use: automating debit and margin calls for trading-only brokers connected to EClear Services
- CDC chief executive Badiuddin Akber noted CDC was the first capital market institution to connect with Raast, through its eDividend bulk payments work in 2021
What it means for people in Pakistan:
For investors and brokerage customers, the change is about simpler, faster payments: moving money for trading and verifying account details through familiar digital payment steps, rather than slower manual processes. If brokers adopt the new tools, routine collections such as margin calls could become more streamlined. The wider effect is a capital market that works more like the digital banking services many Pakistanis already use, with less paperwork and quicker settlement of funds.
