Central Banking

Pakistan central bank opens up financial sector to non-bank players

Photo: SBP/Abbas Ali Khan

Pakistan’s central bank issued new regulation allowing non-financial institutions to offer payment services, and pledged to work on government plans to develop a digital currency by 2025.

The State Bank of Pakistan’s deputy governor, Jameel Ahmad, and the country’s finance minister Asad Umar, gave a joint press conference on April 1 to launch the new regulation for electronic money institutions (EMIs).

The two officials used the event to say Pakistan intends to develop a central bank-issued

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