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Raast (Urdu: راست; lit. ' direct ') is an instant payment system developed by the State Bank of Pakistan (SBP). [1] It operates using the state-of-the-art Pakistan Faster Payment System (PFPS), facilitating real-time settlement of small-value retail payments, including inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. [2]
Bai Salam (Arabic بيع سلم, more accurately transliterated as Bai us Salami) is an Islamic contract in which full payment is made in advance for specific goods (often agricultural products) to be delivered at a future date.
PayPak (Urdu: پے پاک) is a domestic payment service available in Pakistan. [1] It was launched in 2016 by 1Link to save inter-change costs of International Payment Schemes. PayPak cards can only be used on ATMs, POS terminals, and online transactions within Pakistan. [2]
The picture shows an EasyPaisa debit card powered by UnionPay. The card number and name are usually at the front. Easypaisa was founded in 2009 by Telenor Microfinance Bank as a money transfer service through Unstructured Supplementary Service Data (USSD) channels. [3]
Murabaḥah, murabaḥa, or murâbaḥah (Arabic: مرابحة, derived from ribh Arabic: ربح, meaning profit) was originally a term of fiqh (Islamic jurisprudence) for a sales contract where the buyer and seller agree on the markup (profit) or "cost-plus" price [1] for the item(s) being sold. [2]
Ottoman free trade policies were praised by British economists advocating free trade such as J. R. McCulloch in his Dictionary of Commerce (1834), but criticized by British politicians opposing free trade such as Prime Minister Benjamin Disraeli, who cited the Ottoman Empire as "an instance of the injury done by unrestrained competition" in the ...
The Benazir Income Support Programme was established in 2008 by Yousaf Raza Gillani who took the advice of President Asif Ali Zardari.The program's name is a tribute to former Prime Minister and wife of President Asif Ali Zardari, Benazir Bhutto, who was assassinated in 2007.
1LINK is the largest banking consortium in Pakistan. The State Bank of Pakistan has mandated that all commercial banks in Pakistan, both foreign and domestic, become members of 1LINK.