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Aik by BankIslami has introduced Pakistan’s first Shariah-compliant Raast QR payment gateway, enabling QR-based digital payments that align with Islamic finance principles. The launch aims to boost cashless transactions and widen financial inclusion through secure, interoperable digital payments.
Read more: BankIslami Launches ‘Aik’ Digital Islamic Banking Platform
Aik Digital’s Shariah-compliant Raast QR gateway allows merchants and customers to make and receive instant payments via QR codes on smartphones, fully integrated with the State Bank of Pakistan (SBP)’s Raast instant payment system. The product is tailored to meet the needs of users who prefer ethical, interest-free financial services and supports a growing ecosystem of digital microtransactions.
Officials say this gateway will help small businesses and local vendors adopt digital payments with minimal setup costs and that integration with Raast ensures interoperability across participating banks and wallets. This initiative also reflects Pakistan’s broader push toward a cashless economy, where QR-based payments are gaining traction as a low-cost, secure alternative to cash and card transactions.
By merging Shariah principles with Raast’s digital payment infrastructure, aik by BankIslami could broaden the reach of ethical and inclusive finance across Pakistan’s retail and SME sectors.
