Pakistan is launching its own digital currency, confirmed State Bank of Pakistan (SBP) Governor Jameel Ahmad at the Reuters NEXT Asia summit in Singapore. He said the central bank is ready to roll out a pilot project and finalize new rules for virtual assets.
The SBP is training its teams to develop and test the digital rupee. “We’re building our capacity on the central bank digital currency,” said Governor Ahmad. He hopes the pilot will start soon. The central bank works with several tech partners to build a secure system.
Pakistan wants to modernize its payments system and keep up with countries like China and Nigeria that already test or use digital money. Experts believe a digital rupee will cut cash use, reduce illegal money flows, and make payments more transparent.
The Governor admitted there are risks but stressed the need to balance them with new opportunities. “There are risks involved, but this emerging field also offers opportunities. We need to manage the risks carefully while taking the benefits,” he added.
The country’s push for digital currency comes at a time when the government has formally approved the Virtual Assets Act, 2025. This law sets clear rules for licensing and managing virtual assets. The Federal Cabinet, Prime Minister, and President have all given their approval.
The new law will help Pakistan control digital transactions better and make the financial system stronger. The SBP plans to run awareness drives so people can learn how to use digital wallets and keep their money safe.
Banks and fintech firms will work closely with the central bank during the pilot phase. They will test systems, get feedback, and fix any gaps before rolling out the digital rupee nationwide.
Pakistan’s move shows its intent to modernize, boost the economy, and expand access to safe digital payments. With the pilot about to start, the country joins other nations in the race for secure digital money.
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