Pakistan has announced the integration of its digital payment system with the Arab Monetary Fund’s Buna platform, which will enable faster and safer cross-border transactions. However, the arrangement will only cover inflows from overseas Pakistanis, with no provision for outward transfers.
The National Assembly Standing Committee on Finance, chaired by Syed Naveed Qamar, discussed the development during a meeting at an IT park in Islamabad.
State Bank of Pakistan (SBP) Governor Jameel Ahmed informed the committee that Raast initially processed about Rs1 trillion annually. Now, the system reaches that transaction volume in just nine days, showing the strong growth of digital payments.
Integration with Buna will enable faster, secure inflows from overseas Pakistanis, but outflows of funds will not be permitted
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— Profit (@Profitpk) September 19, 2025He explained that Buna integration would further accelerate remittances and make cross-border transfers more secure. The SBP plans to extend digital financial services to 75% of Pakistan’s youth by 2028 and launch a cashless economy framework across federal and provincial levels by June 2026.
Launched in 2020, Buna is a regional, multi-currency payment platform owned by the Arab Monetary Fund. It supports cross-border settlements in Arab and international currencies, including the Saudi Riyal and Emirati Dirham. The platform plans to add more currencies, such as the Chinese Yuan, to enhance regional trade and financial integration.
To back this push, the SBP has issued five licenses for digital payments. Merchants face no 0.5% fees on these transactions. Minister of State for Finance Bilal Azhar Kayani noted that the government will absorb costs to encourage adoption. Pakistan could become one of the first in the region with a full digital ecosystem. Finance Secretary Imdadullah Bosal added that salaries, pensions, taxes, and utility bills will shift to cashless over time.
Deputy Governor Saleem Ullah shared strong figures: 95 million active mobile banking users, 226 million bank accounts (96 million unique), 19,000 bank branches, 20,000 ATMs, and 850,000 QR-integrated merchants. New channels will allow offline transactions, with no extra charges for users.
