KARACHI: Pakistan’s Central Depository Company (CDC) has integrated JS Global Capital Limited into its RAAST Aggregator platform, allowing investors to transfer funds instantly for stock trading in what officials said on Monday marked a milestone in efforts to modernize the country’s capital markets.

Authorities hope linking the State Bank’s RAAST instant payment system to the stock market will cut settlement delays, lower barriers for small investors and build trust in a market often plagued by low liquidity and limited participation. Pakistan’s stock exchange is one of Asia’s oldest but remains thinly traded, with only around 250,000–300,000 active retail investors in a country of 240 million. Its market capitalization hovers around $27 billion, far smaller than regional peers.

“This partnership with JS Global Capital Limited reflects CDC’s ongoing commitment to digital transformation in the capital market,” CDC Chief Executive Officer Badiuddin Akber said at a signing ceremony in Karachi.

“By making fund transfers instant, secure, and more convenient, we are helping investors trade with greater confidence and efficiency. We believe such integrations are not just about technology, they are about building investor trust and laying the foundation for a stronger, more transparent capital market ecosystem.”

The RAAST system, launched by the State Bank in 2021 with World Bank support, has already processed hundreds of millions of payments for individuals and merchants. Each investor sub-account is assigned a unique Investment ID in IBAN format, and once registered with a bank, funds are transferred directly into a broker’s client account within minutes, giving investors immediate access to trading capital.

JS Global Capital Limited CEO Muhammad Khalilullah Usmani said the integration would help strengthen client confidence.

“Joining CDC’s RAAST Aggregator is a step forward in our strategy to provide best-in-class services to investors,” he said. “This integration not only simplifies the fund transfer process but also strengthens investor trust by ensuring speed and reliability.”

Pakistan has been under pressure from international lenders, including the International Monetary Fund, to strengthen transparency, digitalization and governance in financial markets as part of wider economic reforms. CDC said its latest move builds on other initiatives such as its Asaan Connect digital onboarding platform, aimed at making it easier for new investors to enter the market and boosting overall efficiency.