The State Bank of Pakistan (SBP) has announced that Central Directorate of National Savings (CDNS) has been integrated with Raast. According to the details, the customers of CDNS can receive their payments directly into their bank accounts without going to the branch.
“Through the integration with Raast, customers receive their payments in bank accounts in a free, fast, and secure way.” stated the State Bank of Pakistan (SBP). “This will make life easier for those interested in saving schemes.” it added.
2/3 Through this integration with #Raast, customers receive their payments in bank accounts in a free, fast and secure way. This will make life easier for those interested in saving schemes.
— SBP (@StateBank_Pak) May 22, 2022
It is pertinent to mention that Central Directorate of National Savings (CDNS) is the first government entity on-boarded on Raast that will greatly extend SBP’s efforts to digitize payments in Pakistan.
Furthermore, the Raast integration will work with all types of payments, including Saving Certificates, confirmed Hamid Raza Khalid, the Director General of Central Directorate of National Savings (CNDS).
He added that customers need to have savings account as the number of that account would be IBAN identifier for Raast. “Once you have a SA [Savings Account] with us, all sort of payments, be it profit or encashments, can be transferred through Raast.” he added.
Sir it will work for all type of payments. However, one should be having our Savings Account as the number of that Account would be IBAN identifier for Raast. Once you have SA with us, all sort of payments, be it profit or encashments, can be transferred through Raast. Regards!
— Hamid Raza Khalid (@HamidRazaKhalid) May 22, 2022
Read more: Monetary Policy – SBP Increases Interest Rate by 150 BPS to 13.75%.
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