ISLAMABAD: Pakistan’s Foreign Minister Shah Mahmood Qureshi had a telephone call with US Secretary of State Mike Pompeo, where the two discussed bilateral relations and regional peace and security, a statement released by the Foreign Office (FO) late on Monday night read.
“FM Qureshi underscored the importance of a peaceful Afghanistan as vital for regional peace and stability,” it added.
Qureshi, who is on an official visit to the UK, also discussed the Afghan reconciliation process with Pompeo in addition to expressing Pakistan’s commitment to work toward peace in the region and it’s support for an intra-Afghan dialogue.
He also highlighted the Afghanistan Pakistan Action Plan for Peace and Solidarity (APAPPS) as a mechanism for strengthening bilateral relations between the two countries.
“Foreign Minister Qureshi briefed Secretary Pompeo about the measures being taken by Pakistan, in accordance with the National Action Plan [against terrorism] and the initiatives being taken by the government to carry out economic restructuring,” the statement added.
He spoke about the steps that Pakistan has been taking in compliance with the Financial Action Task Force (FATF) action plan. “In this context, he highlighted the regulatory mechanisms that are in place to curb money laundering and terror financing practices,” the statement read.
Earlier this month on June 2, US Special Representative for Afghan Reconciliation, Zalmay Khalilzad visited Islamabad to seek cooperation from Pakistan on expediting the peace talks with the Taliban.
Following his meeting with Pakistani officials in Islamabad, the FO had said in a statement that “Pakistan counselled all parties to move toward the political solution... in Afghanistan,” with Khalilzad reiterating that Pakistan’s role was “crucial for lasting peace in the region.”
Qureshi holds talks with Pompeo on Afghan peace process, bilateral ties
Qureshi holds talks with Pompeo on Afghan peace process, bilateral ties
- Pakistan’s foreign minister says end of conflict in Kabul key for regional stability
- Briefs US Secretary of State on measures taken by Islamabad for economic restructuring
Pakistan, global crypto exchange discuss modernizing digital payments, creating job prospects
- Pakistani officials, Binance team discuss coordination between Islamabad, local banks and global exchanges
- Pakistan has attempted to tap into growing crypto market to curb illicit transactions, improve oversight
ISLAMABAD: Pakistan’s finance officials and the team of a global cryptocurrency exchange on Friday held discussions aimed at modernizing the country’s digital payments system and building local talent pipelines to meet rising demand for blockchain and Web3 skills, the finance ministry said.
The development took place during a high-level meeting between Finance Minister Muhammad Aurangzeb, Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal bin Saqib, domestic bank presidents and a Binance team led by Global CEO Richard Teng. The meeting was held to advance work on Pakistan’s National Digital Asset Framework, a regulatory setup to govern Pakistan’s digital assets.
Pakistan has been moving to regulate its fast-growing crypto and digital assets market by bringing virtual asset service providers (VASPs) under a formal licensing regime. Officials say the push is aimed at curbing illicit transactions, improving oversight, and encouraging innovation in blockchain-based financial services.
“Participants reviewed opportunities to modernize Pakistan’s digital payments landscape, noting that blockchain-based systems could significantly reduce costs from the country’s $38 billion annual remittance flows,” the finance ministry said in a statement.
“Discussions also emphasized building local talent pipelines to meet rising global demand for blockchain and Web3 skills, creating high-value employment prospects for Pakistani youth.”
Blockchain is a type of digital database that is shared, transparent and tamper-resistant. Instead of being stored on one computer, the data is kept on a distributed network of computers, making it very hard to alter or hack.
Web3 refers to the next generation of the Internet built using blockchain, focusing on giving users more control over their data, identity and digital assets rather than big tech companies controlling it.
Participants of the meeting also discussed sovereign debt tokenization, which is the process of converting a country’s debt such as government bonds, into digital tokens on a blockchain, the ministry said.
Aurangzeb called for close coordination between the government, domestic banks and global exchanges to modernize Pakistan’s payment landscape.
Participants of the meeting also discussed considering a “time-bound amnesty” to encourage users to move assets onto regulated platforms, stressing the need for stronger verifications and a risk-mitigation system.
Pakistan has attempted in recent months to tap into the country’s growing crypto market, crack down on money laundering and terror financing, and promote responsible innovation — a move analysts say could bring an estimated $25 billion in virtual assets into the tax net.
In September, Islamabad invited international crypto exchanges and other VASPs to apply for licenses to operate in the country, a step aimed at formalizing and regulating its fast-growing digital market.
