CDC, NIFT partner for digital payments through Emlaak Financials initiative

KARACHI: Central Depository Company and National Institutional Facilitation Technologies signed an agreement for promoting digital payments through NIFT ePay services enabling the investors to use this system for investing into mutual funds adopting CDC’s digital platform “Emlaak Financials”.

The solution would also be facilitating CDC’s IAS account holders to make IAS payments through CDC Access portal. NIFT Chief Executive Officer Haider Wahab and CDC’s CEO Badiuddin Akber signed the agreement here at CDC Head Office, said CDC release on Wednesday.

Central Depository Company is recognized as the infrastructure backbone of Pakistan’s capital market and it was the sole securities depository in the country whereas, NIFT is one of the largest payment processors in Pakistan.

NIFT’s CEO, Haider Wahab said that it was encouraging for the company to become a part of CDC’s newly launched initiative for the mutual fund industry.

” We understand, Emlaak Financials platform has an aspiring roadmap, and we look forward to play our role in strengthening the platform and in making this service a success, ” he pledged adding that NIFT would always focus to partner for unique and innovative ideas which would uplift the digital transformation in the country.

CDC’s CEO, Badiuddin Akber described the collaboration with NIFT as a pride for his company. CDC was engaging NIFT’s payment gateway for the first of its kind mutual fund aggregator platform being launched in the financial landscape of the country.

The launch of this platform and its integration with NIFT’s services to enable secure and swift payments for mutual fund investors was in-line with CDC’s vision of enhancing efficiency and ease of doing business.