State Bank of Pakistan to Introduce Digital Currency to Enhance Remittances
The State Bank of Pakistan (SBP) is considering launching a digital currency to make money transfers quicker and cheaper for Pakistanis living abroad.
SBP Deputy Governor Salimullah, speaking in Karachi, explained that the bank is currently evaluating the need for a digital currency. This potential development is part of a broader government effort to improve remittances and financial transactions.
The new digital currency system aims to help about 60 million Pakistanis abroad transfer money instantly and at lower costs, making remittances more efficient and affordable.
