World & BusinessPakistan plans to link its payment system to Buna by the end of 2026
Nikkei Asia reports the link with the Arab Monetary Fund's network would make sending money home about 30% cheaper for millions of Pakistani workers in the Persian Gulf.
TLDR
Nikkei Asia reports that Pakistan is preparing to connect its domestic Raast payment system to the Arab Monetary Fund's Buna network by the end of 2026. The report says the link would make remittances about 30% cheaper for millions of Pakistani workers in the Persian Gulf and is likely to reduce illegal hawala transfers.
Pakistan plans to link its payment system to Buna by the end of 2026
Nikkei Asia reports the link with the Arab Monetary Fund's network would make sending money home about 30% cheaper for millions of Pakistani workers in the Persian Gulf.
TLDR
Nikkei Asia reports that Pakistan is preparing to connect its domestic Raast payment system to the Arab Monetary Fund's Buna network by the end of 2026. The report says the link would make remittances about 30% cheaper for millions of Pakistani workers in the Persian Gulf and is likely to reduce illegal hawala transfers.