Pakistan may soon introduce digital currency as legal tender, equivalent to traditional banknotes, according to State Bank of Pakistan (SBP) Governor Jameel Ahmed. Speaking to the media during the Monetary Policy announcement on Monday, the governor revealed that the central bank has been actively working on the concept and is optimistic about its potential in the country.

Governor Ahmed stated that the SBP has developed internal technical expertise and conducted extensive research on the feasibility and utility of digital currency in Pakistan. After thorough analysis, the SBP team concluded that digital currency could operate efficiently within the country’s financial system.

The SBP has submitted its recommendations to the federal government, seeking a policy-level agreement to provide legal protection for the introduction and use of digital currency in Pakistan. The governor emphasized that the final decision now rests with the federal cabinet, which will review the legal and regulatory aspects before approving the launch.

The move reflects the SBP’s commitment to modernizing Pakistan’s financial infrastructure and exploring innovative solutions to enhance efficiency and transparency in the economy. If approved, the digital currency would serve as a secure and efficient alternative to physical cash, aligning Pakistan with global trends in financial technology.