ISLAMABAD: A leading Pakistani Islamic commercial bank announced on Wednesday that it has enabled digital payments at cattle markets across the country, saying the move would promote digital economy and make transactions convenient for citizens ahead of Eid Al-Adha.
BankIslami said in a statement that it has enabled Raast QR payments at cattle markets across the country through its mobile app, “aik by BankIslami.” It said the move is part of the central bank’s “Go Cashless” campaign which was launched last year.
The Go Cashless campaign promotes digital payments within cattle markets, where usually transactions of massive amounts take place through cash ahead of Eid Al-Adha, as people buy thousands of sacrificial animals. The campaign allows user to make payments digitally for a range of transactions, including the purchase of sacrificial animals, payment for daily provisions such as water and feed, and settlement of parking fees through the central bank’s initiative.
“Pakistan’s cattle markets move billions of rupees every Eid season, almost entirely in cash,” Ashfaque Ahmed, chief office of aik, was quoted as saying by the bank in a statement. “At aik, we are working to not only improve this experience by providing a safe and seamless alternative, but also contribute to the growth of Pakistan’s Riba-free banking ecosystem.”
BankIslami said it is strengthening the digital payment infrastructure within Pakistan’s most traditional and cash-dependent marketplaces, helping bridge the gap between modern financial technology and the everyday Pakistanis.
“This initiative is a continuation of aik by BankIslami’s mission to modernize Shariah-compliant financing and shape a future where every Pakistani can transact with confidence, dignity, and ease,” the statement concluded.
Pakistan, a country of over 240 million people, has a vast informal economy and low tax compliance. The government has long identified digitization as a key tool to improve governance, reduce corruption and expand the country’s narrow tax base.
Pakistan launched the Merchant Onboarding Framework in July 2025 that requires banks and payment providers to equip all merchants with Raast-enabled digital payment tools such as QR codes and POS [Point of Sale] systems.
Prime Minister Shehbaz Sharif last year also ordered the doubling of all key digital economy targets, including mobile-based payments, QR code adoption and overall transaction volumes, as part of the same plan.
