Islamabad 51
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us
No Result
View All Result
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us
No Result
View All Result
Islamabad 51
No Result
View All Result
Home Latest

PM Shehbaz Sharif launches Buna-Raast project to streamline remittances

News Desk by News Desk
May 13, 2025
in Latest, National
0
Buna-Raast Project Launched
Share on FacebookShare on Twitter

ISLAMABAD: Prime Minister Shehbaz Sharif has launched the Buna-Raast connectivity project in the federal capital, Islamabad, to streamline the flow of remittances from the Arab world to Pakistan through legal channels.

The project connects Pakistan’s digital payment system, Raast, with Buna, established by the Arab Monetary Fund.

More Insights: Explore Related Stories

Prime minister approves revised 10-year power plan, saving $17 bln

Prime Minister Shehbaz Sharif announces special courts for overseas Pakistanis

PM Shehbaz announces major cut in electricity prices for households, industries

Prime Minister Shehbaz Sharif approves promotion of 47 officers to Grade-22

Speaking at the ceremony in the federal capital, Prime Minister Shehbaz Sharif stated that this groundbreaking initiative will further strengthen their historic relations with the Arab world through modern digital means.

Shehbaz Sharif said this landmark initiative aims to help Pakistanis in the Arab world send their money back home quickly.

The Prime Minister highlighted that it is Pakistan’s first cross-border real-time payment system, which will make remittances more affordable and accessible.

Referring to the economic challenges, he said he will soon announce a five-year homegrown economic program. Shehbaz Sharif noted that discussions with stakeholders on this matter have been ongoing for several months.

He said the program will outline measures to boost the economy and various sectors, including agriculture and IT.

Shehbaz said that, in addition to easing the digital remittance process, it would also help boost the country’s foreign exchange and further strengthen the already cordial relations between Pakistan and the Arab world.

Calling it a significant advancement in promoting financial transactions through modern techniques, Shehbaz said the project would broaden the scope of Pakistan’s digital payment infrastructure.

“This shows how 21st-century Pakistan is advancing by incorporating modern technologies into people’s lives. This is the first cross-border real-time payment system linkage that will make remittances more affordable and accessible,” he said.

PM also noted that the project has the potential to evolve into a future model of a broader payment system, where transactions could occur region to region, with the potential for over $20 billion in annual payments.

The Prime Minister thanked the Arab Monetary Fund, State Bank of Pakistan, Finance Ministry, Bill and Melinda Gates Foundation, and Karandaaz for their support in launching the project.

Earlier, he also presented mementos to Dr. Fahad Alturki, Chairperson of the Arab Monetary Fund, Jamil Ahmed, SBP Governor, Dr. Anita Zaidi, President of the Bill and Melinda Gates Foundation, and Waqasul Hassan, CEO of Karandaaz.

Tags: Buna-Raast Project LaunchedCross Border Real Time PaymentsDigital Payment System PakistanPrime Minister Shehbaz SharifRemittance Flow Enhancement
Previous Post

Punjab announces public holiday in Lahore on 26 Aug 2024, for Data Ganj Bakhsh Urs

Next Post

Supreme Court removes controversial paragraphs from Mubarak Sani Judgment

News Desk

News Desk

Related Posts

Shehbaz Sharif

Prime minister approves revised 10-year power plan, saving $17 bln

by News Desk
May 13, 2025
0

ISLAMABAD: Prime Minister Shehbaz Sharif approved a new 10-year electricity plan, cutting planned purchases from 14,000 megawatts (MW) to about...

Shehbaz Sharif Pic

Prime Minister Shehbaz Sharif announces special courts for overseas Pakistanis

by News Desk
May 13, 2025
0

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif has announced the establishment of special courts in Islamabad to address the issues of...

Image of Shehbaz Sharif

PM Shehbaz announces major cut in electricity prices for households, industries

by News Desk
May 13, 2025
0

ISLAMABAD: Prime Minister Shehbaz Sharif announced a reduction in electricity prices for household users by 7 rupees and 41 paisa...

Next Post
Image of Supreme Court

Supreme Court removes controversial paragraphs from Mubarak Sani Judgment

Pakistan Airport Image

PM Shehbaz Sharif orders enhanced facilities at airports

German Federal Minister meets PM Shehbaz, focuses on economic collaboration

German Federal Minister meets PM Shehbaz, focuses on economic collaboration

Image of Utility Store

Federal government considers shutting down utility stores across Pakistan

Follow Us

Recommended

Army being deployed in Punjab and KP as agitation feared to go north

Army being deployed in Punjab and KP as agitation feared to go north

2 years ago
FBISE Forms Committee to Probe Complaints Regarding Islamiyat Paper Part-I

Plan to Cheat on MDCAT Exam Foiled

2 years ago
Pakistan Army Soldiers Martyred

Two Soldiers Martyred, Terrorist Killed in Buner Operation: ISPR

1 year ago
vegetable rates islamabad

Islamabad Price Update: Vegetables, Fruits, Chicken & Eggs for December 30, 2024

5 months ago

Categories

  • City
  • Education
  • International
  • Latest
  • National
  • Showbiz
  • Sports
  • Tech
  • Uncategorized

Pages

  • About Us
  • Contact Us
  • Disclaimer
  • Home 1
  • Privacy Policy
  • Terms of Service

Follow us on Google News for Latest Updates

Recent News

  • Khyber Pakhtunkhwa extends Sehat Card and life insurance for one more year
  • PM Shehbaz unveils agri-reform plan for self-sufficiency, modernization
  • Islamabad approves Margalla Enclave phase-II under public-private partnership

Category

  • City
  • Education
  • International
  • Latest
  • National
  • Showbiz
  • Sports
  • Tech
  • Uncategorized
No Result
View All Result
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us

© 2023 Islamabad51