Report: ANI
NEW YORK: Chairman PVARA and Minister of State Bilal bin Saqib has called for greater participation of developing countries in shaping the future of global digital finance.
Speaking at the Social Business, Youth and Technology Forum during the 81st UN General Assembly, he said technology should benefit underserved populations and governments must keep pace with rapid technological developments.
Pakistan also co-hosted a UN policy dialogue on tokenization, highlighting the Global South’s role in emerging financial technologies. Bilal bin Saqib said Pakistan had moved from an eight-year banking ban to a regulatory framework for virtual assets within six months.
He identified remittances as a key area for tokenization, noting that Pakistan received a record $41.6 billion in workers’ remittances last fiscal year. He also highlighted potential applications in sovereign debt, Sukuk and SME financing.
He said developing countries’ large populations and growing digital economies could create new opportunities for financial inclusion, innovation and access to modern financial services.
