PVARA Chairman Bilal Bin Saqib met Islamic scholar Mufti Muhammad Taqi Usmani on Saturday to discuss digital assets after the scholar declared cryptocurrency trading impermissible (haram).

Sharing details of the meeting on X, Bilal Bin Saqib described the discussion as constructive and said both sides were united on the need to protect Pakistanis from fraud, financial exploitation, and other risks associated with emerging digital financial products.

He said he emphasized that blockchain technology, digital assets, stablecoins, and tokenized real-world assets encompass a wide range of technologies and applications, and therefore should not be treated as a single category.

According to Bilal Bin Saqib, each segment of the digital asset ecosystem deserves careful technical evaluation alongside rigorous Shariah examination before conclusions are drawn about its permissibility.

He added that as digital finance continues to evolve, Pakistan should maintain dialogue among Islamic scholars, regulators, and industry experts to ensure that future policies are shaped by both Islamic principles and a thorough understanding of emerging technologies.

Bilal Bin Saqib did not indicate that Mufti Taqi Usmani had revised or reconsidered his earlier fatwa, nor did he announce any new religious ruling following the meeting.