ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has instructed all of its licensed institutions to implement and exhibit digital payment solutions, especially Raast QR Code, at their business locations.
By way of a directive, digital payment solutions shall be adopted by all entities regulated by SECP, such as Non-Banking Finance Companies (NBFCs), Insurance Companies, Modarabas, Securities Brokers, and other market intermediaries licensed by the SECP.
Digital payments cannot be declined by these entities at their outlets, and visibility must be maintained at their outlets. The directive shall be complied with by October 31, 2025.
The SECP drive aligns with the country’s vision to encourage a cashless economy and build Pakistan’s digital payment infrastructure.
SECP is also perfectly in sync with the State Bank of Pakistan’s push for digitisation. This initiative will contribute to increased financial inclusion, transparency, ease of convenience, and business efficiency throughout the regulated industry.
All stakeholders are urged to actively partner with their respective banks/MFB/EMIs and get their free-of-cost RAAST QR codes and implement them promptly.
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