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convenience to the customers, a standardized list was prepared after consultation with the banking
industry. SBP instructed to all its regulated entities to implement the standardized list through

PSP&OD Circular Letter No. 03 of 2023 dated November 22, 2023 accessible at the following link:
https://www.sbp.org.pk/psd/2023/CL3.htm

5. Adoption of Raast P2P:

In recent quarter, the adoption of Raast, Pakistan's instant payment system, has started to gain
momentum, bringing about a gradual yet impactful shift in the financial landscape. Notably,

transaction growth surged from 12% in the last quarter (Q1 FY24) to an impressive 32% in the current
quarter (Q2 FY24). In terms of value, Raast P2P facilitated transactions worth PKR 2.3 trillion, a notable

increase from PKR 1.7 trillion in Q1 FY24.

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