Finance Minister Advocates for Crypto Readiness and Digital Transformation at Banking Summit
At the inaugural Pakistan Banking Summit 2025 held in Karachi, Finance Minister Muhammad Aurangzeb emphasized the need to modernize the country’s banking sector through digital transformation. He urged regulatory bodies, particularly the State Bank of Pakistan (SBP), to adopt an open-minded approach toward cryptocurrency and evolving financial technologies.
Aurangzeb highlighted that digital banking is rapidly expanding in Pakistan and acknowledged the increasing use of cryptocurrencies in informal markets. Given the evolving landscape of digital assets, he stressed the importance of establishing a regulatory framework for both cryptocurrencies and artificial intelligence (AI) to ensure Pakistan remains competitive in the global financial ecosystem.
While the SBP continues to regulate digital currencies, Aurangzeb encouraged financial institutions to broaden their outlook on cryptocurrency adoption in Pakistan. He also referenced international developments, noting that emerging economies are actively integrating digital assets and AI to enhance financial inclusion and strengthen their banking systems. Drawing insights from the AlUla Conference in Saudi Arabia, he underscored the significance of keeping pace with these trends.
Reaffirming the government’s commitment to digitization, the finance minister stressed the importance of incorporating digital payment solutions such as point-of-sale (POS) systems and QR codes to advance a cashless economy. He acknowledged that cryptocurrencies could contribute to this shift, provided robust regulations and security measures are put in place.
Concluding his address, Aurangzeb called for a progressive and proactive approach to cryptocurrency adoption, recognizing its potential to shape Pakistan’s digital banking future.
