The Central Depository Company of Pakistan Limited (CDC) and EClear Services Limited are expanding their partnership to introduce new digital payment and investor verification services in Pakistan’s capital market through the State Bank of Pakistan’s Raast system.
Under the initiative, EClear will become the first institution in Pakistan’s stock market to adopt Raast Person-to-Merchant (P2M) Request to Pay Later and Dynamic QR Code payment services. The new features aim to simplify payment collection, improve transaction management, and reduce manual work in brokerage operations.
The collaboration builds on CDC’s existing Raast Person-to-Person transfer, Static QR Code, and IBAN-CNIC verification services. The new solutions could also help brokers connected to EClear automate debit and margin calls, making payment processes more efficient. CDC CEO Badiuddin Akber said the company has continued to expand Raast-based services for mutual fund companies, stockbrokers, and insurance companies through its Raast Aggregator framework.