Transactions worth Rs612trln recorded in FY2025: SBP governor

KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad revealed that transactions worth Rs612 trillion were recorded during the fiscal year 2025, with 77 per cent of them conducted at the branch level.

He noted that the private sector is rapidly adopting the Raast digital payment system, and 15 more banks are expected to integrate into the system soon.

The governor urged the Pakistan Banking Association to play an active role in this transition.

Urging the need to strengthen public confidence in digital financial services, Jameel Ahmad said the central bank is enhancing its cybersecurity framework to ensure safe and reliable transactions.

“Even a single cyber fraud incident can undermine customer trust,” he warned, stressing that banks must invest in secure and advanced technologies.

He added that the rise of artificial intelligence has increased the industry’s responsibilities, highlighting the importance of protecting consumer privacy and maintaining public confidence in Pakistan’s digital financial ecosystem.

Earlier, the State Bank of Pakistan (SBP), in its Annual Review of Payment Systems, reported that retail payment volumes grew by 38% during fiscal year 2024–25, driven by the strong adoption of digital channels, which now account for 88% of all retail transactions.

According to the SBP, the Raast instant payment platform recorded more than a twofold increase in both transaction volume and value, while PRISM+, the upgraded real-time gross settlement (RTGS) system used primarily for large-value payments, also posted double-digit growth during the year.

The central bank attributed this rapid expansion to regulatory initiatives, the growing digital infrastructure, and increased consumer adoption of mobile and internet-based banking platforms.