Domestic system Raast to be connected, likely to reduce illegal hawala transfers
Pakistan, by connecting its domestic payment system Raast, might likely become the first South Asian country to join the Arab Monetary Fund’s cross-border payment network Buna. (Source photos from websites of Buna and Raast)
ADNAN AAMIR
September 21, 2026 14:00 JST
ISLAMABAD — Pakistan is preparing to connect its domestic payment system backed by its central bank with the Arab Monetary Fund’s Buna network by the end of this year, making it about 30% cheaper for millions of Pakistani workers in the Persian Gulf region to send money home.