In a milestone for Pakistan’s capital market, the Central Depository Company (CDC) has successfully integrated the RAAST payment system into Muhammad Munir Muhammad Ahmed Khanani Securities Limited, enabling real-time investor fund transfers. This breakthrough marks a step forward in building a more responsive, transparent, and digitally empowered capital market ecosystem.
Agreement Signing Ceremony
To commemorate this milestone, an agreement signing ceremony was held at CDC House on Friday, 8 August, where the agreement was formally signed by:
- Mr. Munir Khanani, Chief Executive Officer of Munir Khanani Securities
- Mr. Abdul Samad, Chief Operating Officer, CDC
How RAAST Integration Works
RAAST is Pakistan’s first instant payment system that enables instantaneous movement of funds between two parties. CDC took the initiative to build connectivity with the RAAST system and extended its novel payment mechanisms to the Brokerage Industry. At the heart of this process is the role of CDC as an Aggregator, facilitating seamless transfer of funds from a customer’s bank account to the Broker’s bank account.
To simplify the process for investors:
- The CDC Aggregator generates a one-time RAAST Investment ID in the format of an International Bank Account Number (IBAN), linked to the customer’s Sub-Account.
- This RAAST Investment ID can be added as a beneficiary in the customer’s banking portal.
- When a payment is made using this ID, funds are debited from the customer’s bank account and transferred to the Broker’s segregated client bank account via the CDC RAAST Aggregator.
- The Broker is notified immediately, and the entire process takes only a few minutes, enabling real-time trading.
Leadership Perspectives
Badiuddin Akber, CEO of CDC
“This initiative is a clear demonstration of how technology partnerships can reshape market operations. CDC is proud to act as an aggregator of RAAST for brokerage accounts, facilitating secure and efficient fund movement that supports greater investor participation and market depth.”
Munir Khanani, CEO of Munir Khanani Securities
“Our clients now have immediate access to their funds for trading, allowing them to capitalize on market opportunities with greater speed and confidence. CDC RAAST aggregator module is a state-of-the-art service. We are also glad to have Microlinks on board as our technology partner for this initiative.”
As one of the first brokerage houses to adopt this functionality—made possible with support from Microlinks (Pvt) Ltd—Munir Khanani Securities is setting a precedent for enhanced investor experience.
A Step Towards Digital Transformation
This integration, now fully live, illustrates the power of collaboration in driving meaningful digital transformation and reaffirms the industry’s shared commitment to:
- Expanding market access
- Accelerating transactions
- Deepening Pakistan’s capital market
About CDC
The Central Depository Company (CDC) is the infrastructure backbone and ultimate custodian of Pakistan’s capital market, providing comprehensive and innovative services, including depository, settlement, custody, and aggregator solutions. CDC plays a crucial role in the development and digital transformation of Pakistan’s capital market, fostering transparency, efficiency, and reliability.
About Munir Khanani Securities
Munir Khanani Securities is a prominent brokerage house in Pakistan, offering comprehensive financial services and committed to leveraging technology to deliver superior trading experiences to its clients.
About Microlinks
Microlinks is an innovative technology provider dedicated to enhancing the operational efficiency of capital market participants in Pakistan. Key products include SEAMS (back-office ERP system) and Tradelinks (online trading platform available across desktop, web, and mobile devices).
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