KARACHI: In an interview with CNN, Governor State Bank of Pakistan Reza Baqir revealed that the central bank was at the stage of studying before launching a digital coin of its own.
When Julia Chatterley, citing reference of China’s making huge advances in its own digital currency, asked about his views regarding essential bank digital coin in Pakistan, Reza Baqir said, “We are studying that very carefully. We think that countries like China are really showing us the way. The benefit of that to us is two-fold. It allows us to make further progress towards fight against anti-money laundering. We hope to be able to make some announcement on that in the coming months.”
For now, he said, Pakistan had allowed a framework for digital banks, which do not have a brick and mortar presence like challenger and neo banks.
Baqir said that the SBP was open for digital innovation. He also welcomed online payment processing companies like Stripe, Fintech and others.