Pakistan’s Finance Minister Restates Government’s Commitment to Digital Currency

Pakistan’s State Bank (SBP) is aiming to accelerate the creation of a digital version of the national currency, the rupee, with a projected launch date in 2025. Governor Jameel Ahmad revealed this plan in July 2023, highlighting the importance of studying the experiences of other central banks in developing their own central bank digital currencies (CBDCs). Ahmad stressed the need for a cautious approach, focusing on the development of a robust and secure digital currency tailored to Pakistan’s specific requirements.