KARACHI – State Bank of Pakistan’s digital currency pilot project hints at new era in Pakistan’s Financial System as the central bank is taking measures to transform payments.
In major step toward future of finance, the central bank is actively working on launching its very own central bank digital currency (CBDC), with a pilot project set to roll out soon.
SBP Governor Jamil Ahmed revealed in Karachi that the country is on the verge of embracing cutting-edge digital finance technology, aiming to revolutionise the way transactions are conducted nationwide.
“We are already working on digital currency. A pilot project of the central bank’s digital currency will soon be initiated,” he confirmed, signaling a transformative era for Pakistan’s financial sector. Pakistan is making efforts to be in growing list of nations exploring potential of CBDCs to enhance financial inclusion, improve payment systems, and strengthen economic resilience.
Alongside this exciting digital leap, State Bank is finalising new currency note designs and has maintained a steady policy rate of 11%, reflecting cautious optimism amid global economic challenges.
Launch of Pakistan’s CBDC pilot promises to open new avenues for innovation and convenience for millions of Pakistanis, paving the way for a modernized, secure, and efficient financial future.
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