CDC, collaborates with SBP for permitting buyers to buy mutual funds models utilizing RAAST Gateway

ISLAMABAD-Central Depository Firm (CDC) has collaborated with the State Financial institution of Pakistan (SBP) for permitting buyers to buy mutual funds models utilizing SBP’s RAAST Cost Gateway.
CDC has developed a framework the place it acts as an “Aggregator” and points a Raast Cost ID, enabling buyers to digitally switch funds, utilizing Raast, to the respective Asset Administration Firm (AMC) for buy of mutual fund models.
The power was launched in an occasion at CDC Home with Saleem Ullah, Deputy Governor SBP, because the chief visitor.
Whereas officiating the occasion, Deputy Governor SBP – Saleem Ullah expressed his heartfelt appreciation for CDC’s unwavering efforts and initiatives for digitalization and buyer facilitation. He emphasised that the core goal of all digitalization efforts is to enhance buyer comfort and satisfaction. He mentioned that the launch of RAAST funds facility for Mutual Funds will present the much-needed comfort to the mutual fund buyers and can be instrumental in rising the buyers’ base.
Highlighting the significance of RAAST, the DG SBP mentioned that the RAAST will work because the pivot for digitization of the nation’s cost system. He mentioned that since its launch in 2021, RAAST is working easily, efficiently processing over 1 million transactions every day.