Pakistan’s central bank is preparing to launch a pilot program for a central bank digital currency (CBDC), Governor Jameel Ahmad confirmed on Wednesday. The move is part of the country’s ongoing efforts to modernize its financial system and explore blockchain-backed solutions. This announcement was made at the Reuters NEXT Asia summit in Singapore, where Ahmad discussed the future of monetary policy in South Asia.
He further explained that this initiative is part of Pakistan’s broader strategy to stay aligned with global trends, as countries such as China, India, and Nigeria have already taken steps toward implementing blockchain-based currencies. “We are building up our capacity on the central bank digital currency,” Ahmad noted during the panel discussion, adding that the rollout of the pilot would come soon.
In addition, Pakistani government passed another bill, the Virtual Assets Act, 2025, which plans to create an independent regulator that will license and monitor the crypto industry. The move is likely to facilitate a more secure and transparent business environment.
“This new field is associated with risks and opportunities. We must analyze and handle the risks and ensure that we maximize the opportunities,” Governor Ahmad said. The legislation is still in its final stages, and banks will need to adhere to the upcoming licensing protocols before formally engaging with virtual assets.