ISLAMABAD: Pakistan is focusing on expanding international investment opportunities by adopting modern financial technologies and contributing to the development of future financial systems, Minister of State and Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib has said.
During meetings with senior World Bank Group officials, discussions focused on modernising Pakistan’s financial system, promoting digital finance and exploring ways to increase foreign investment.
In a meeting with International Finance Corporation (IFC) Regional Vice President Imad Fakhoury, Bilal discussed digital bonds, the tokenisation of Islamic sukuk and opportunities to attract international investment to Pakistan.
He also met World Bank Group Vice President and Treasurer Jorge Familiar to discuss digital bonds, asset tokenisation and the potential of emerging financial technologies to strengthen capital markets.
Artificial intelligence and regulatory development were also on the agenda. During a meeting with World Bank Vice President for Digital and AI Sangbu Kim, discussions covered the use of artificial intelligence to improve financial oversight, strengthen regulatory institutions and support the growth of the digital economy.
Bilal also met World Bank Group Vice President and Controller Zinga Venner. The discussions focused on using blockchain technology to improve financial transparency, strengthen oversight and develop more robust digital financial institutions.
Separately, the PVARA chairman attended a roundtable with Barclays investors alongside Finance Minister Muhammad Aurangzeb and State Bank of Pakistan Governor Jameel Ahmad.
Bilal said digital bonds, asset tokenisation and AI-based regulation could create new opportunities for Pakistan’s economy. He described these areas as potential fields for cooperation with the World Bank Group to modernise the country’s financial system and encourage greater investment.
The discussions come as Pakistan explores ways to expand digital financial services and develop its regulatory framework for emerging technologies. The extent to which these initiatives attract investment will depend on their implementation, regulatory safeguards and investor confidence.
