SBP Promotes Cashless Transactions in Pakistan’s Cattle Markets Ahead of Eid

Karachi: Ahead of Eid-ul-Azha 2026, the State Bank of Pakistan has announced large-scale measures to promote digital payments in cattle markets by launching a “Go Cashless” campaign across the country. The central bank says the campaign aims to reduce the use of cash, increase financial inclusion and promote modern payment systems.

According to the State Bank, during Eid-ul-Adha, large-scale buying and selling takes place in livestock markets, and most transactions are done through cash. This is why the central bank has been taking various steps to shift the public towards the digital payment system for the past few years.

The central bank has said that this year the campaign has been further expanded, and now 96 livestock markets have been included in the project, while last year this number was 54. 22 different banks are participating in this initiative, which will set up special camps in the markets.

Banks will provide traders and buyers with various means of digital payment, including QR code systems, mobile banking, direct services and branchless banking wallets. In addition, the facility of opening accounts and instant registration of traders will also be provided.

According to the State Bank, to facilitate more transactions during the days of Eid, temporary relaxation has also been made in certain transaction and account balance limits, which will remain in effect until June 5, 2026.

The central bank said that wherever possible, mobile banking vans, ATMs and cash deposit machines will also be installed to provide easy financial facilities to the public.

According to economic experts, this is a significant development for the promotion of the digital economy in Pakistan. They say that the use of digital payments will not only bring transparency to the financial system but will also significantly reduce the security risks associated with cash.

Banking experts say that modern systems like Raast are playing an important role in promoting instant and secure payments in Pakistan. According to them, if the public adopts digital payments on the occasion of Eid, it will further strengthen the foundation of a cashless economy in the country in the future.

The State Bank has advised citizens to make payments through mobile apps, QR codes and digital wallets during Eid-ul-Adha to ensure safe and easy transactions. According to the central bank, these steps will be helpful in making Pakistan’s financial system modern and in line with world standards.