aik by BankIslami has introduced Raast QR-based digital payments in cattle markets across Pakistan ahead of Eid-ul-Adha 2026. The initiative aims to promote cashless transactions under the State Bank of Pakistan’s Go-Cashless campaign.
This step is designed to modernize traditional cattle markets. It also aims to make Payments faster, safer, and more convenient for buyers and sellers.
Officials said the initiative will reduce reliance on cash in high-transaction environments. Every year, billions of rupees are exchanged in cattle markets during Eid season.
The launch ceremony was attended by senior officials from the State Bank of Pakistan and BankIslami leadership. They appreciated efforts to strengthen digital financial systems in the country.
According to aik Chief Officer Ashfaque Ahmed, the project is a major step toward secure digital Payments. He said cattle markets handle huge cash flows every Eid, which creates risks and inefficiencies.
He added that the new system provides a safe alternative. It also supports Pakistan’s goal of building a cashless economy through modern financial tools.
The State Bank of Pakistan’s representatives also acknowledged the collaboration. They said such initiatives help expand financial inclusion and digital adoption across Pakistan.
Through Raast QR integration, customers can now complete instant Payments using mobile banking apps. This reduces the need for physical cash handling in crowded market areas.
Officials said the system will also benefit small merchants and livestock sellers. It ensures quicker settlements and reduces risks linked to cash transactions.
The initiative is part of the government’s broader vision of a Cashless Pakistan. It supports efforts to digitize major economic sectors and improve transparency in financial transactions.
BankIslami stated that this project reflects its commitment to Islamic and digital banking innovation. It aims to combine ethical finance with modern technology solutions.
Experts believe that digital Payments in cattle markets will gradually change consumer behavior. It may encourage wider adoption of cashless systems in other traditional marketplaces.
Authorities hope the move will set a strong example for other sectors. It is expected to improve efficiency, security, and trust in Pakistan’s payment ecosystem.
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Overall, the introduction of Raast QR Payments in cattle markets marks an important step toward digital transformation in Pakistan’s economy.
