KARACHI: Dubai Islamic Bank, MAK Global and ARY Services have collaborated and signed a tri-partite Memorandum of Understanding (MoU) to launch RAAST Payment to Merchants (P2M) services in Pakistan.

This collaboration will revolutionize digital payment acceptance for all type of merchants and businesses in Pakistan.

The MoU was signed by Wamiq Rizvi, Chief Operating Officer, Dubai Islamic Bank, Haji Muhammad Iqbal, Chairman, ARY Group and Haider Rizvi, CEO MAK Global in the presence of senior executives of the respective organizations at Dubai Islamic Bank head office here.

The game changing initiative is part of the State Bank of Pakistan (SBP) working to boost Financial Inclusion in the country while giving merchants an offering of instant payment system at a very nominal cost.

Copyright Business Recorder, 2024