State Bank Governor Reza Baqir claimed that the central bank is studying digital currency.
While replying to question from media officials regarding digital currency in Pakistan, the SBP governor said, “We are studying” and went on to cite financial inclusion, tracking money laundering, and counter-terrorism measures as possible benefits.
SBP has first time shown its interest in studying digital currency. Earlier the State bank of Pakistan has rejected all kinds of digital currencies for trade and payments.
The SBP is closely watching the entry of China in digital currency. China is trying to promote digital currency but central banks of developed countries oppose the move. There are allegations that Beijing wants to dominate the financial world with the digital currency. However, the progress of digital currency in China is still very low.
