SBP to introduce digital currency in Pakistan with technical support from IMF, World Bank

In a media briefing held today in Karachi, Deputy Governor of the State Bank of Pakistan (SBP), Salimullah, announced that the central bank is currently evaluating the introduction of a digital currency.

This project is being pursued with technical support from the World Bank, in collaboration with the International Monetary Fund (IMF).

Salimullah highlighted that efforts are underway to link Pakistan with 60 countries, including those in the Middle East, to enhance remittance flows.

Looking ahead, the governor revealed that the Raast payment system will be integrated with the Arab Monetary Fund’s cross-border payment platform, Buna, by next year.

Buna facilitates secure, cost-effective, and transparent transactions for financial institutions and central banks across the Arab region and beyond, enabling payments in both Arab and major international currencies.

The integration with Buna is expected to provide 60 million Pakistanis living abroad with the capability to transfer funds instantly and at minimal costs, significantly boosting economic and financial connectivity.