State Bank of Pakistan (SBP) Governor Dr Reza Baqir has said the central bank is carefully studying the options to launch digital currency in Pakistan.
Speaking to a private media outlet, Baqir highlighted the role of the central bank in the wake of COVID-19 in Pakistan. He also talked about his vision to bring digitisation to the country’s financial sector.
“The launch of digital coin in Pakistan will have a twofold benefit to us. Not only does it boosts our efforts for financial inclusion, but the central bank-issued digital currency will allow progress in our fight towards anti-money and countering terrorism financing,” said Baqir.
On the entry of global fintech companies like stripe in the Pakistani market, Baqir said that big international payment providers are “very welcome” in Pakistan.
“Pakistan is the home to the fifth-largest concentration of people. It is a market where people are generally tech-savvy, and it is a market that is waiting to burst as far as digitisation is a concern,” said Baqir.
“We are very open, and we embrace any global mobile payment operator that wants to come to Pakistan.”