What is Raast

Raast is Pakistan’s first instant payment system introduced by the State Bank of Pakistan (SBP) to promote digital payments nationwide.

It enables real-time, secure, and free funds transfers between individuals and businesses, creating a unified payment experience across all banks.

With Raast, customers can send or receive money instantly, anytime, anywhere without paying any transaction fee.

Raast with MCB Islamic Bank

In line with SBP’s vision for financial inclusion, MCB Islamic Bank offers free-of-cost Raast fund transfers to all customers through:

  1. SUBUK
  2. Over-the-Counter (OTC) at MCB Islamic Bank branches

You do not need to have your own Raast ID to send money simply transfer funds to the beneficiary’s Raast ID or IBAN, and the payment will be processed instantly.

Customers can also receive money from any bank across Pakistan by sharing either their IBAN or Raast ID (if registered). Each mobile number can be linked to only one bank account as a Raast ID.

SUBUK App

Branch Counter

How to create your Raast ID

Create your Raast ID easily through SUBUK:

  • – Log in to SUBUK App or visit https://digital.mcbislamicbank.com
  • – From the Hub Menu, select Accounts
  • – Choose Raast Management and enter the required details.
  • – Tap Create to successfully register your Raast ID (Alias).
  • – You can link or delink your Raast ID anytime from the same option.
  • – Visit your nearest MCB Islamic Bank Branch.
  • – To link your account, authenticate yourself via OTP received on your registered mobile number.
  • – You will instantaneously get confirmation of your mobile number as your Raast ID
  • – Only one Raast ID is allowed per customer & only one account can be linked to one Raast ID.

How to transfer funds via Raast
  • – Log in to SUBUK App or visit https://digital.mcbislamicbank.com
  • – Select Send Money.
  • – For a new transfer, tap New Transfer → choose Raast or IBAN as the transfer type.
  • – Enter the beneficiary details (Raast ID or IBAN) and transfer amount.
  • – Review and Swipe to Pay, then enter your TPIN for verification.
  • – The transaction will be processed instantly.

*For existing Raast beneficiaries, simply select from your saved list under the Raast category, verify with TPIN, and complete the payment.
  • – Visit nearest MCB Islamic Bank Branch.
  • – Provide confirmatory cheque and share beneficiary’s IBAN or Raast ID for transfer.
  • – Confirm the amount that is to be transferred.
  • – Complete Biometric verification or call back confirmation
  • – Receive a physical receipt for record
  • – Your payment will be transferred instantaneously.
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