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Pakistan State Bank Targets Digital Currency by 2025 and Fully Digital Economy by 2030

From the Blog riazhaqA top official of the State Bank of Pakistan, the nation's central bank, announced that the institution aims to issue a digital currency (Central Bank Digital Currency or CBDC) by 2025, according to media reports. Speaking at the launch of regulations of Electronic Money Institutions (EMIs), central bank officials said that EMIs will be non-bank entities to be licensed by the central bank to issue e-money for the purpose of digital payments. Pakistan's finance minister Asad Umar and the central bankers said they are targeting Pakistan's economy to go fully digital by 2030. "As we move towards digital economy, it is absolutely important to ensure cybersecurity," said the finance minister, according to Dawn newspaper. Mr. Umar added that even a single high profile incident coulpakistanblogs.blogspot.comRead Full PostComments

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