DailyPakistan.Online

The State Bank of Pakistan has introduced a new policy in 2026 to integrate its Raast ID system with international banks, aiming to simplify financial transactions for overseas Pakistanis. This integration enables seamless, real-time money transfers directly to Pakistani bank accounts using unique Raast IDs. The policy is designed to enhance transparency, reduce transaction costs, and promote financial inclusion among the Pakistani diaspora worldwide.

In recent years, the flow of remittances from overseas Pakistanis has become a vital component of Pakistan’s economy. These funds support millions of families and contribute significantly to the country’s foreign exchange reserves. Recognizing the importance of these financial inflows, the State Bank of Pakistan (SBP) has taken a pivotal step by linking the Raast payment system with international banking networks. This integration marks a transformative development that aligns Pakistan with global digital payment trends and offers a practical solution to longstanding challenges faced by expatriates sending money back home.

Raast, Pakistan’s instant payment system, was launched to facilitate fast, secure, and cost-effective digital transactions within the country. It assigns a unique ID to each account holder, allowing payments to be made using simple identifiers such as mobile numbers or CNICs instead of lengthy bank account details. By extending this system to work alongside international banks, the SBP aims to streamline the remittance process and minimize delays and fees that traditionally burden overseas Pakistanis.

The new policy focuses on interoperability, making it easier for foreign banks to recognize and process Raast IDs in real time. This means that Pakistanis living abroad can send money directly to their families’ accounts without going through multiple intermediaries. Consequently, this initiative is expected to reduce the reliance on informal channels and unregulated money transfer services, which often expose users to risks and higher costs.

For overseas Pakistanis, the integration presents numerous benefits. It offers greater convenience by eliminating the need for complicated documentation or multiple steps when transferring funds. Additionally, it enhances security by using verified digital identities linked to the Raast system, reducing the chances of fraud. The policy also supports financial inclusion by encouraging more individuals to open formal bank accounts and participate in the regulated financial system, thus fostering economic stability.

From a broader perspective, this international integration supports Pakistan’s vision of a digital economy and financial modernization. It aligns with the country’s digital transformation goals by promoting cashless payments and boosting transparency in financial transactions. The expected increase in formal remittance flows can help strengthen Pakistan’s balance of payments and provide a more predictable source of foreign currency, which is crucial for the country’s economic resilience.

Moreover, the policy reflects the government’s commitment to engaging the Pakistani diaspora and recognizing their role in national development. By simplifying cross-border financial transactions, the government is sending a clear message that it values the contributions of overseas Pakistanis and seeks to facilitate their economic participation. This approach has the potential to deepen trust between the diaspora community and financial institutions in Pakistan.

In conclusion, the SBP’s 2026 policy to integrate Raast IDs with international banks offers a significant advancement in the way overseas Pakistanis send money home. It promises faster, safer, and more affordable transactions while supporting national economic goals. As this system becomes operational, it will likely transform remittance services, enhance financial inclusion, and strengthen the bond between Pakistan and its global community.

Policy Overview

The integration of SBP’s Raast ID system with international banks marks a significant policy advancement aimed at streamlining financial transactions for overseas Pakistanis in 2026. This policy is designed to enhance cross-border remittances by leveraging Raast’s instant payment infrastructure, thereby reducing transaction times and costs while increasing transparency and security.

At its core, the policy mandates that international banks partnering with Pakistani financial institutions adopt the Raast ID framework as a standardized identifier for overseas Pakistanis. This unique digital identity facilitates seamless verification and authentication processes, enabling instant fund transfers directly into beneficiaries’ bank accounts within Pakistan. By aligning with Raast’s real-time payment system, the policy ensures that remittances are processed without the delays typically associated with correspondent banking networks.

To operationalize this integration, the State Bank of Pakistan (SBP) has outlined specific compliance and technical requirements for participating banks. These include adherence to the existing regulatory framework governing Electronic Money Institutions (EMIs) and banks, ensuring robust anti-money laundering (AML) and counter-terrorism financing (CTF) controls are in place. Banks must also implement secure APIs that interface with Raast’s platform, enabling real-time transaction settlement and reconciliation. The policy emphasizes risk mitigation by requiring banks to maintain strict internal controls to prevent misuse of transaction limits and to safeguard customer data privacy.

Another critical aspect of the policy is the facilitation of a sponsorship arrangement, where international banks collaborate with local Pakistani banks to sponsor Raast IDs for their customers. This arrangement allows overseas Pakistanis to open digital accounts linked to their Raast ID, simplifying the onboarding process and expanding financial inclusion. The policy also encourages the use of mobile and internet banking channels to provide convenient access to remittance services, aligning with the broader digital payments ecosystem promoted by SBP.

From a macroeconomic perspective, this policy supports Pakistan’s broader financial inclusion and economic growth objectives. By enabling faster and more cost-effective remittances, it is expected to increase the inflow of foreign exchange, which is vital for stabilizing the country’s balance of payments. The policy’s timing coincides with the January 2026 Economic Outlook, which highlights the need for innovative financial solutions to bolster Pakistan’s economy amid global uncertainties. Enhanced remittance channels through Raast ID integration are poised to contribute positively to these economic goals.

Furthermore, the policy aligns with SBP’s National Payment Systems Strategy, which aims to modernize Pakistan’s digital payments infrastructure and promote interoperability among financial service providers. The integration with international banks represents a natural extension of this strategy, expanding Raast’s reach beyond domestic borders and positioning Pakistan as a regional leader in digital financial services.

In summary, the SBP Raast ID integration policy for international banks is a forward-looking initiative that combines regulatory rigor with technological innovation. It promises to deliver a secure, efficient, and user-friendly remittance experience for overseas Pakistanis, while simultaneously advancing Pakistan’s economic and financial inclusion objectives. For those interested in the policy development process, understanding how to craft effective proposals can be insightful, as detailed in the guide From Idea to Approval: How to Write a High-Quality Research Proposal in 2026.

Regulatory Framework

The integration of SBP’s RAAST ID system with international banks for overseas Pakistanis in 2026 is underpinned by a robust and evolving regulatory framework designed to ensure security, compliance, and operational efficiency. This framework is anchored in the State Bank of Pakistan’s (SBP) comprehensive regulatory oversight, which governs not only traditional banking institutions but also digital banks, payment service providers, and electronic money institutions.

At the core, the regulatory environment draws from established legislation such as the Banking Companies Ordinance, 1962, the Microfinance Institutions Ordinance, 2001, and the Foreign Exchange Regulation Act, 1947. These laws provide the foundational legal structure for banking operations, foreign exchange controls, and anti-money laundering (AML) measures. The SBP, as the owner and operator of the RAAST payment system, ensures that all transactions comply with stringent AML and counter-terrorism financing (CTF) regulations, thereby safeguarding the integrity of cross-border fund transfers.

In 2026, the SBP’s regulatory framework has been further enhanced to accommodate the unique challenges posed by international integration. This includes the introduction of licensing requirements and operational guidelines specifically tailored for digital banks and payment service providers that interface with overseas financial institutions. The framework mandates rigorous customer due diligence (CDD) and know-your-customer (KYC) protocols, which are critical for verifying the identities of overseas Pakistanis and preventing fraudulent activities.

Moreover, the SBP has incorporated international best practices into its regulatory design by benchmarking against regulatory regimes in over 15 countries where digital banking and instant payment systems operate. This comparative approach ensures that the RAAST ID integration aligns with global standards on data privacy, cybersecurity, and interoperability. For instance, the framework requires participating banks to implement advanced encryption and secure communication channels to protect sensitive financial data during cross-border transactions.

Another significant regulatory aspect is the facilitation of seamless interoperability between domestic and international banking systems. The SBP’s framework stipulates technical and operational standards that enable real-time settlement and reconciliation of payments through the RAAST platform. This reduces transaction times and costs for overseas Pakistanis sending remittances or conducting other financial activities abroad.

To support these regulatory measures, the SBP has also established a supervisory mechanism that continuously monitors compliance and operational risks associated with the RAAST ID integration. This includes periodic audits, reporting requirements, and a dispute resolution process to address any issues arising from cross-border transactions. The regulatory framework thus balances innovation with prudential oversight, fostering trust among users and international banking partners alike.

Importantly, this regulatory evolution complements broader economic reforms and digital financial initiatives highlighted in the January 2026 Economic Outlook. The integration of RAAST with international banks is a strategic move to enhance financial inclusion for overseas Pakistanis, streamline remittance flows, and contribute to Pakistan’s economic stability and growth.

In summary, the regulatory framework governing SBP’s RAAST ID integration with international banks is a multi-layered construct that combines existing banking laws, digital banking regulations, international best practices, and robust supervisory mechanisms. This framework not only ensures compliance and security but also promotes efficiency and innovation in cross-border financial services for overseas Pakistanis in 2026.

RAAST ID Technical Integration

The technical integration of the SBP Raast ID system with international banks represents a significant advancement in cross-border payment infrastructure, designed to streamline remittance flows for overseas Pakistanis. At its core, the integration hinges on linking the Raast ID—a unique identifier tied to a user’s mobile number and bank account—with the International Bank Account Number (IBAN) used by banks worldwide. This linkage enables seamless, real-time fund transfers directly into recipients’ accounts without the need for traditional intermediaries, reducing transaction times and costs substantially.

From a technical standpoint, the integration requires participating international banks to establish secure API connections with the Raast platform operated by the State Bank of Pakistan (SBP). These APIs facilitate the authentication of Raast IDs, validation of linked IBANs, and execution of instant credit transfers. Banks must comply with stringent security protocols, including encryption standards and multi-factor authentication, to safeguard user data and prevent fraud. Additionally, they are required to implement risk mitigation measures aligned with SBP’s regulatory framework to monitor transaction limits and detect suspicious activities.

To onboard international banks, SBP mandates a formal Participant Agreement that outlines operational rules, compliance requirements, and technical specifications. This agreement ensures that all parties adhere to uniform standards, enabling interoperability across diverse banking systems. The integration also supports exchange companies licensed by SBP, allowing them to utilize Raast for remittance disbursements into both bank accounts and digital wallets, thereby expanding the reach of the payment system.

One of the critical technical challenges addressed during integration is the harmonization of different banking standards and formats. The Raast system employs ISO 20022 messaging standards for payment instructions, which international banks must support or translate from their native formats. This standardization facilitates accurate and efficient data exchange, minimizing errors and reconciliation issues. Furthermore, the system’s architecture is designed for high availability and scalability, capable of handling large volumes of transactions concurrently without degradation in performance.

Another key feature is the real-time settlement capability. Unlike traditional cross-border payments that can take days, Raast’s infrastructure enables instant crediting of funds, enhancing liquidity for recipients. This is particularly beneficial for overseas Pakistanis who rely on timely remittances for daily expenses and investments. The system also provides transparent transaction tracking through mobile and online banking portals, allowing users to monitor payment status and limits easily.

Looking ahead, the integration framework is designed to accommodate future enhancements such as the introduction of digital currencies and expanded interoperability with additional countries. The SBP’s collaboration with international financial institutions ensures that the Raast platform remains compliant with global best practices and evolving regulatory requirements.

This technical integration not only facilitates efficient remittance flows but also aligns with broader economic objectives outlined in the January 2026 Economic Outlook, which emphasizes digital financial inclusion and strengthening Pakistan’s foreign exchange reserves. By enabling overseas Pakistanis to send money home quickly, securely, and cost-effectively, the Raast ID integration with international banks marks a transformative step in modernizing Pakistan’s payment ecosystem.

International Banking Partnerships

The integration of SBP's RAAST ID with international banks marks a significant milestone in enhancing financial connectivity for overseas Pakistanis. This new policy, effective in 2026, aims to streamline cross-border transactions by establishing formal partnerships between Pakistani financial institutions and their global counterparts. These partnerships are designed to leverage the instant payment capabilities of RAAST, Pakistan’s pioneering digital payment system, to facilitate seamless, secure, and cost-effective remittances and fund transfers.

At the core of these international banking partnerships is the objective to reduce friction in overseas Pakistanis’ financial interactions with their home country. By enabling direct interoperability between RAAST and foreign banking networks, the policy eliminates the need for intermediaries, which traditionally increase transaction costs and processing times. This direct linkage allows for real-time settlement of payments, ensuring that funds sent abroad or received from overseas are credited instantly, enhancing liquidity and financial planning for users.

Moreover, these partnerships incorporate stringent compliance and risk management protocols aligned with international banking standards. Participating banks must adhere to the State Bank of Pakistan’s operating rules for RAAST, including robust anti-money laundering (AML) and counter-terrorism financing (CTF) measures. This ensures that while transactions become faster and more accessible, they remain secure and transparent, protecting both the financial system and end-users from potential misuse.

Another critical feature of this policy is the facilitation of multi-currency transactions through integrated foreign exchange mechanisms within the RAAST framework. Overseas Pakistanis can now transact in multiple currencies without the traditional delays associated with currency conversion, as partner banks coordinate to provide real-time forex rates and settlements. This capability not only simplifies remittances but also supports investment flows, allowing diaspora members to participate more actively in Pakistan’s economic growth.

To support these partnerships, the State Bank of Pakistan has also introduced digital onboarding and account linking processes that enable overseas Pakistanis to connect their foreign bank accounts with their RAAST IDs effortlessly. This digital-first approach reduces paperwork and physical branch visits, making financial services more accessible regardless of geographic location. It aligns with broader efforts to promote financial inclusion and digital banking adoption, as highlighted in the January 2026 Economic Outlook, which underscores the importance of digital infrastructure in Pakistan’s economic development.

Furthermore, the collaboration between RAAST and international banks is expected to foster innovation in financial products tailored for the diaspora community. These may include specialized savings accounts, investment schemes, and instant payment solutions that cater to the unique needs of overseas Pakistanis. By integrating these offerings within the RAAST ecosystem, the policy encourages greater participation in Pakistan’s formal financial sector, thereby increasing transparency and economic resilience.

In summary, the SBP’s initiative to integrate RAAST IDs with international banking partners represents a forward-looking strategy to modernize cross-border financial flows for overseas Pakistanis. It enhances transaction speed, security, and convenience while promoting financial inclusion and economic engagement. This policy not only benefits individual users but also strengthens Pakistan’s position in the global financial landscape by fostering stronger ties with international banking systems.

Compliance & Risk Management

Regulatory Alignment

Before a Pakistani diaspora account can be opened abroad, the State Bank’s new policy mandates that the host bank’s anti‑money laundering (AML) scheme must be “fit‑for‑purpose” with respect to SBP’s Risk Assessment and Attestation Statement (RAAST). The alignment process requires a joint audit of the host bank’s compliance manuals, transaction monitoring thresholds, and know‑your‑customer (KYC) procedures. Both parties must certify that the host bank’s customers are screened against the SBP’s sanctioned entities list and that any suspicious activity is escalated within 24 hours. This shared audit streamlines onboarding and cuts the typical 30‑day approval cycle to less than 15 days.

Cross‑border Data Protection

Data sovereignty is a cornerstone of the new policy. Every overseas account must store personal identifying data within the host country’s data center, but must also submit anonymised transaction feeds to the SBP in real time. The anonymisation process removes IP addresses, device fingerprints, and biometric markers before aggregation. The policy grants the SBP a right of independent inspection on any data dump, ensuring consistent audit trail quality across borders. This approach satisfies international privacy standards while preserving the SBP’s ability to perform continuous risk analytics.

Risk Governance Framework

SBP’s updated governance model assigns risk ownership to both the diaspora banking institution and the host bank’s risk officer. A bi‑annual risk board meets to review net exposure, liquidity buffers, and compliance triggers. Each exposure threshold is governed by a dynamic model that recalibrates quarterly based on macro‑economic input, such as the January 2026 Economic Outlook: Key Updates on Pakistan's Economy. The board issues a compliance memo after each meeting, detailing any remediation plans and the timeline for completion.

Operational Controls

Operational controls target the single most frequent tripping point in overseas accounts: currency conversion. The policy specifies that every conversion from Pakistani rupees to a foreign currency must pass through SBP‑approved foreign exchange (FX) desks that are integrated with the RAAST platform. Transaction records are cross‑checked by an automated system that flags mismatches where the conversion rate deviates more than 2 % from the inter‑bank market rate. If flagged, the transaction is halted, and the originator is prompted to supply a legitimate commercial invoice or proof of service.

Audit & Reporting Cadence

SBP requires a continuous audit trail that is both granular and accessible. Every overdraft request, large‑value transfer, and currency swap must be logged with a time stamp, counterparty details, and a risk tag. Monthly reports are generated automatically and forwarded to both the host bank and SBP. These reports undergo a 48‑hour reconciliation period where any discrepancy is flagged and investigated. The audit cycle closes with an executive summary that highlights trend analyses—such as increases in cross‑border remittances—or emerging threats like layering schemes that may bypass traditional AML checks.

Impact on Overseas Pakistanis

The integration of the State Bank of Pakistan’s (SBP) RAAST digital payment system with international banks marks a transformative milestone for overseas Pakistanis, fundamentally reshaping how they engage with financial services and remit funds. This new policy, effective in 2026, directly addresses longstanding challenges faced by expatriates, including high transaction costs, delays, and regulatory complexities, by streamlining cross-border payments through a unified digital infrastructure.

One of the most significant impacts is the drastic reduction in remittance costs. Previously, overseas Pakistanis often encountered multiple intermediaries and currency conversion fees when sending money home. With RAAST’s integration, transactions are processed in real-time with minimal charges, leveraging direct connectivity between Pakistani banks and their international counterparts. This efficiency not only increases the net amount received by families in Pakistan but also encourages higher volumes of formal remittances, which are crucial for the country’s foreign exchange reserves and economic stability.

Moreover, the policy enhances transparency and security in overseas transactions. The RAAST system incorporates stringent risk-mitigating measures and compliance protocols mandated by the SBP, ensuring that funds transferred through this channel are traceable and protected against fraud or misuse. This is particularly important given the regulatory environment where banks must justify foreign currency outflows and ensure remittances align with valid contracts or agreements. The digital trail created by RAAST simplifies compliance for both senders and financial institutions, reducing bureaucratic hurdles and fostering trust in the formal banking system.

Another critical benefit lies in financial inclusion. Many overseas Pakistanis, especially those in the Middle East and Europe, have historically faced difficulties accessing Pakistani banking services due to geographic and procedural barriers. The RAAST integration enables seamless account linking and instant fund transfers, allowing expatriates to manage their finances more effectively from abroad. This connectivity also supports the SBP’s broader vision of extending digital financial services to a majority of Pakistan’s youth by 2028, creating a more inclusive and cashless economy.

Additionally, the policy facilitates investment opportunities for overseas Pakistanis by simplifying the inflow of funds for business ventures and property purchases. Previously, stringent disclosure requirements and regulatory approvals often delayed or discouraged such investments. With RAAST’s streamlined processes, expatriates can now inject capital into Pakistan’s economy more efficiently, contributing to economic growth and job creation. This aligns with recent economic updates highlighting the government’s focus on attracting foreign direct investment and diaspora engagement as key drivers of development.

Importantly, the integration also supports the welfare mechanisms established for overseas workers. For instance, the Overseas Pakistanis Foundation (OPF) provides insurance and support services funded through contributions by expatriates. Easier and faster remittance flows via RAAST ensure that these funds are reliably collected and disbursed, enhancing the social safety net for migrant workers and their families.

In summary, the SBP’s RAAST ID integration with international banks empowers overseas Pakistanis by offering a faster, safer, and more cost-effective channel for financial transactions. This policy not only strengthens the economic ties between expatriates and their homeland but also contributes to Pakistan’s broader economic objectives, as outlined in the January 2026 Economic Outlook. By embracing digital innovation and regulatory modernization, Pakistan is positioning itself to harness the full potential of its diaspora’s financial contributions in the years ahead.

Implementation Timeline

The rollout of the SBP RAAST ID integration with international banks for overseas Pakistanis in 2026 follows a meticulously planned timeline designed to ensure seamless adoption and compliance across all stakeholders. This phased approach balances technical readiness, regulatory alignment, and user education to maximize the initiative’s impact on cross-border remittances and digital financial inclusion.

The initial phase, commencing in the first quarter of 2026, focuses on establishing the foundational infrastructure. During this period, the State Bank of Pakistan (SBP) collaborates closely with participating international banks to integrate their systems with the RAAST platform. This involves rigorous testing of interoperability protocols, security frameworks, and compliance mechanisms to meet both domestic and international regulatory standards. Banks are required to enter into formal agreements with SBP, ensuring adherence to the operating rules of the RAAST scheme and electronic money institution regulations. This phase also includes the deployment of necessary APIs and digital identity verification tools to facilitate instant and secure fund transfers.

By mid-2026, the second phase emphasizes pilot testing and controlled rollout. Select corridors with high volumes of remittances, such as the Middle East, Europe, and North America, are prioritized for initial implementation. This targeted approach allows SBP and partner banks to monitor transaction flows, resolve technical glitches, and gather user feedback. Concurrently, SBP launches awareness campaigns tailored to overseas Pakistanis, highlighting the benefits of using RAAST IDs for faster, cost-effective, and transparent remittances. These campaigns leverage digital channels and community networks to build trust and encourage adoption.

The third phase, scheduled for the final quarter of 2026, marks the full-scale launch and expansion. At this stage, all participating international banks are expected to have completed integration and compliance checks. The system opens to the broader overseas Pakistani community, enabling them to link their RAAST IDs with foreign bank accounts for seamless cross-border transactions. SBP also introduces enhanced features such as real-time transaction tracking, dispute resolution mechanisms, and multi-currency support to improve user experience. Additionally, continuous monitoring and reporting frameworks are established to ensure transparency and regulatory oversight.

Throughout the implementation timeline, SBP coordinates with domestic banks, electronic money institutions, and payment service providers to align their systems with the international integration. This holistic approach ensures that funds transferred via RAAST IDs can be efficiently settled within Pakistan’s banking ecosystem, supporting liquidity and financial stability. The initiative also dovetails with broader digital payment strategies outlined in the National Payment System Strategy, reinforcing Pakistan’s commitment to a cashless economy.

Importantly, the timeline incorporates provisions for iterative improvements based on real-world usage data and stakeholder feedback. SBP’s adaptive management approach allows for policy refinements and technical upgrades, ensuring the system remains resilient and responsive to evolving market needs. This dynamic process reflects lessons learned from previous digital payment initiatives and research-driven policy formulation, akin to the structured approach detailed in From Idea to Approval: How to Write a High-Quality Research Proposal in 2026.

By adhering to this detailed timeline, the SBP aims to deliver a robust, user-friendly, and internationally compliant RAAST ID integration that empowers overseas Pakistanis with efficient financial connectivity, ultimately contributing to increased remittance inflows and economic growth in 2026 and beyond.

Stakeholder Engagement

The integration of SBP’s Raast instant payment system with international banks under the new 2026 policy for Overseas Pakistanis necessitates a meticulously coordinated stakeholder engagement approach. This engagement is critical to ensure seamless interoperability, regulatory compliance, and user-centric service delivery across borders.

First, the State Bank of Pakistan (SBP) plays a central role as the regulator and operator of Raast. Its engagement involves setting clear participation criteria for international banks and financial institutions, including exchange companies and Electronic Money Institutions (EMIs), which must comply with SBP’s operating rules and licensing frameworks. SBP’s strategic plan emphasizes building an innovative and inclusive digital financial ecosystem, making its collaboration with overseas banks essential to align cross-border payment standards and security protocols.

International banks, as primary stakeholders, require detailed consultations to understand the technical and regulatory requirements for Raast integration. This includes compliance with anti-money laundering (AML) regulations, Know Your Customer (KYC) standards, and settlement mechanisms. Their feedback is vital to tailor the system’s interoperability features, ensuring that remittance flows are efficient and cost-effective for Overseas Pakistanis. Moreover, banks’ operational teams must be engaged early to prepare their IT infrastructure and customer service channels for the new payment modalities.

Exchange companies and payment service providers also form a crucial stakeholder group. Their inclusion in Raast facilitates faster home remittances and broadens access points for overseas users. SBP’s prior reforms to regulate these entities and curb foreign exchange misuse highlight the importance of their active participation in policy implementation. Engaging these stakeholders through workshops and pilot programs can help identify operational challenges and optimize user experience.

Overseas Pakistanis themselves represent the end-users whose needs and preferences must guide the engagement process. Focus groups, surveys, and digital feedback channels can be employed to gather insights on usability, trust factors, and service expectations. This user-centric approach ensures that the integrated system addresses real-world pain points such as transaction speed, transparency, and cost.

Government agencies, including the Ministry of Finance and diplomatic missions abroad, are also key collaborators. Their role includes facilitating regulatory harmonization, promoting awareness campaigns, and supporting dispute resolution mechanisms. Coordinated engagement with these entities ensures that the policy’s objectives align with broader economic and diplomatic goals, as outlined in the January 2026 Economic Outlook.

To manage this complex network of stakeholders effectively, a structured engagement framework is essential. This involves mapping stakeholders by influence and interest, setting clear engagement goals, and employing tailored communication tactics. Regular multi-stakeholder forums and digital platforms can foster ongoing dialogue, transparency, and trust. Additionally, monitoring and evaluation mechanisms should be established to track progress and incorporate stakeholder feedback iteratively.

In summary, the success of the SBP Raast ID integration with international banks hinges on proactive, inclusive, and strategic stakeholder engagement. By aligning regulatory bodies, financial institutions, service providers, government agencies, and end-users, the policy can deliver a robust, secure, and user-friendly cross-border payment system that empowers Overseas Pakistanis and strengthens Pakistan’s digital financial infrastructure.

Frequently Asked Questions

What is the SBP RAAST ID Integration policy for Overseas Pakistanis?

It allows Pakistani citizens abroad to link their RAAST IDs with foreign banks to access and manage remittances directly in local currencies.

How does the integration benefit new migrants?

It simplifies salary deposits and reduces exchange‑rate fees by routing funds through the RAAST framework.

Which international banks participate in 2026?

Only institutions approved by the SBP have been onboarded, covering key markets in the Middle East, Europe, and North America.

Do I need to register with the SBP to use the feature?

Yes, Overseas Pakistanis must verify their identity with the SBP portal before linking the RAAST ID to a foreign account.

Is there a transaction fee for RAAST‑linked transfers?

Fees are capped at 1% of the transfer amount, subject to the provider’s surcharge policy.

Can I receive dividends from overseas investments through RAAST?

Dividends earned abroad can be redirected to the RAAST-linked account, subject to applicable withholding tax rules.

What security measures are in place?

Multi‑factor authentication and end‑to‑end encryption are enforced across all participating banks.