Building an innovative and inclusive digital financial services ecosystem is one of the key objectives of State Bank of Pakistan (SBP) under its Strategic Plan 2023 – 2028. To achieve this objective, SBP continues to strengthen digital payments infrastructure, promote innovation and redesign regulatory frameworks to facilitate cross-border transfers using secure, interoperable and customer-centric solutions.
In furtherance of this vision, SBP has now allowed Exchange Companies (ECs) to utilize “Raast”, a state-of-the-art payment system launched by SBP in 2021, to facilitate remitters and beneficiaries of home remittances. Through this enablement, the beneficiaries receiving remittances through ECs can receive their funds in their accounts and wallets maintained with Banks, MFBs, or EMIs, in a safe and efficient manner. This facilitation is a step forward in achieving the overall national objective of “cashless economy”.
The instructions in this regard have been issued vide EPD circular letter No. 02 dated January 15, 2026.
