Islamabad, Jan 28: Pakistan could be moving towards the introduction of a digital currency as legal tender, according to State Bank of Pakistan (SBP) Governor Jameel Ahmed. Speaking to the media during the announcement of the Monetary Policy on Monday, Ahmed revealed that the central bank has developed the necessary technical infrastructure and conducted extensive research on the potential benefits and functionality of digital currency in Pakistan.
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The SBP team has concluded that digital currency could operate efficiently within Pakistan’s financial system. Following this, the central bank has submitted its recommendations to the government, requesting a policy-level agreement to ensure the legal protection and regulation of digital currency in the country.
The next step will involve a review by the cabinet, which will assess the legal implications and make the final decision on whether to proceed with the launch of digital currency in Pakistan. The move, if approved, would mark a significant shift towards digitalizing the country’s financial ecosystem.
