SBP’s go-cashless drive reaches cattle markets as BankIslami rolls out Raast QR

State Bank of Pakistan’s nationwide Go-Cashless campaign for Eid-ul-Azha 2026 has expanded into cattle markets across Pakistan, with BankIslami Pakistan Limited launching Raast QR payment services through its digital banking platform “aik”.

The initiative is aimed at promoting cashless transactions in one of Pakistan’s most cash-intensive seasonal markets, where livestock trading involving billions of rupees takes place every Eid season.

In a statement issued on Wednesday, the bank said the service would enable cattle buyers, traders and merchants to make and receive payments digitally through QR-based transactions, reducing dependence on physical cash.

Under the SBP-led campaign, participating banks are onboarding cattle sellers, transporters and related service providers onto digital financial channels through account openings and deployment of Raast QR payment infrastructure.

Chief Officer of aik Ashfaque Ahmed said Pakistan’s cattle markets continue to operate largely through cash despite the massive transaction volumes generated during Eid-ul-Azha.

He said the initiative is intended to provide a safer and more convenient payment mechanism while also contributing to the expansion of Pakistan’s Riba-free banking ecosystem.

The bank said the rollout forms part of broader efforts to support the government’s push toward a cashless economy and strengthen digital payment adoption in traditional marketplaces.

According to the statement, the initiative is also expected to improve financial accessibility and bridge the gap between digital banking services and everyday commercial transactions in Pakistan’s livestock sector.