State Bank of Pakistan; Plans to Launch First Ever Digital Currency
The State Bank of Pakistan has announced plans to launch the country's first-ever digital currency. It aims to improve financial inclusion and reduce the reliance on cash transactions.
Governor of State Bank of Pakistan Jameel Ahmad said Pakistan is working on launching the country’s first-ever digital currency. The Chairman of Senator Saleem in the Parliament House, the SBP governor, said in the meeting the central banks are piloting digital currencies. However, the SBP is trying to learn from the experience.
He further said the state bank is currently busy reviewing and understanding the efforts of other central banks. They have successfully created their digital currencies. Moreover, the State Bank will be careful about launching a Central Bank Digital Currency.
Meanwhile,...