Landscape of
Digital Financial Services
in Pakistan
After the launch of the first phase of Raast Bulk Payments in January 2021, SBP is now introducing Raast Person-to-Person (P2P). Under Raast P2P fund transfers and settlement services, bank customers would be able to send and receive funds in their accounts using their bank’s mobile application, internet banking or over the counter services... More
State Bank of Pakistan has launched licensing and regulatory framework for setting up digital banks in Pakistan as a separate and distinct category in the banking business. Digital bank is defined as a bank which offers all kinds of financial products and services primarily through digital platforms or electronic channels instead of physical branches... More
Digital Financial Services (DFS) include a broad range of financial services accessed and delivered through digital channels. DFS can be a catalyst in improving living standards, reducing poverty, decreasing fiscal deficit, and providing equal income opportunity to all Pakistanis.
