Tech Desk
Aug 22, 2024
In a landmark ceremony held in Islamabad, Prime Minister Shehbaz Sharif launched the innovative 'Bona Rast' cross-border money transfer system, hailed as a significant connectivity project aimed to revolutionise financial transactions across borders.
The PM stated: "Bona Rast is a major step forward in connecting Pakistan with Arab countries, allowing citizens to make easy digital payments. We're also reforming the Federal Board of Revenue (FBR) to improve our financial system."
"Bona Rast is Pakistan's first cross-border money transfer system, overseas Pakistanis will get benefit from this project and help prevent illegal money transfers," the PM added.
The digital system Rast is being linked to Bona under the Arab Monetary Fund, the project will strengthen Pakistan's infrastructure for the digital transfer of funds, and the Bona Rast project will also cause a boost in remittances.
The prime minister stated that this project will enable all Pakistanis to transfer funds easily, safely, and transparently, eliminating the need for unofficial channels.
According to the spokesperson, Bona offers its partners cutting-edge payment methods that not only innovate but also ensure adherence to international standards, norms, and compliance requirements.
