KARACHI: The State Bank of Pakistan (SBP) and the Controller General of Accounts Pakistan (CGAP) on Monday signed a memorandum of understanding for digitising federal government payments through Raast, the country’s first instant payment system launched in January.

“Raast also has the ability to make payments to multiple beneficiaries at a time in order to cater high volume government payments like salaries, pension and social security payments,” said the SBP.

Published in Dawn, March 30th, 2021*