ISLAMABAD: Pakistan’s Foreign Minister Shah Mahmood Qureshi met United Arab Emirates Minister of State Reem Al Hashimi on the sidelines of the OIC’s Council of Foreign Ministers’ meeting in Niamey, Niger, on Saturday.
During their meeting, the two leaders exchanged views on bilateral cooperation, COVID-19 situation, Pakistan’s participation in an Expo arranged by the UAE, and other matters of mutual interest.
Qureshi highlighted the close fraternal ties and people-to-people contacts between the two countries and stressed Pakistan’s commitment to forge closer cooperation with the UAE in diverse fields.
According to an official handout circulated by the foreign office of Pakistan, the Emirati state minister lauded Qureshi’s speech at the Niger meeting in which he proposed the OIC to deal with the menace of Islamophobia.
“Apprising the Emirati Minister of State of the difficulties being faced by Pakistani citizens with regard to UAE visa, Foreign Minister Qureshi underscored the need to address the issue at the earliest possible,” said the official statement. “The two sides also exchanged views on OIC matters and stressed the importance of further strengthening it as a united and pivotal platform for the Muslim Ummah.”
It was also agreed during the meeting to enhance mutual exchanges to carry forward the process of growing bilateral cooperation.
FM Qureshi holds meeting with UAE state minister, discusses bilateral cooperation
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FM Qureshi holds meeting with UAE state minister, discusses bilateral cooperation
- The Pakistani foreign minister highlighted close fraternal ties and stressed his country’s commitment to closer bilateral cooperation
- UAE Minister of State Reem Al Hashimi appreciated Qureshi’s proposal to the OIC to focus on the menace of Islamophobia
Pakistan launches crypto testing framework to regulate digital assets
- Regulatory ‘sandbox’ to let firms test crypto products under supervision
- Move comes amid broader push to formalize Pakistan’s digital asset sector
ISLAMABAD: Pakistan’s Virtual Assets Regulatory Authority (PVARA) on Friday launched a crypto testing framework to regulate digital assets, allowing firms to trial new products and services under official supervision.
The initiative, formally structured as a regulatory “sandbox,” creates a controlled environment where companies can test crypto-related services under the oversight of the regulator before full-scale approval.
According to PVARA, the sandbox will support real-world use cases including tokenization, stablecoins, remittances and on- and off-ramp infrastructure.
Tokenization refers to converting real-world assets into digital tokens on a blockchain, while stablecoins are cryptocurrencies pegged to a fiat currency to maintain a stable value. On- and off-ramp infrastructure allows users to convert between fiat money and digital assets, enabling the practical use of virtual asset products.
“The Pakistan Virtual Assets Regulatory Authority has formally approved and launched its Regulatory Sandbox for virtual assets,” PVARA said in a post on X. “Sandbox Guidelines and the application process will be published shortly on our website.”
The move comes as the government seeks to build a formal regulatory framework for digital assets while attracting investment and strengthening oversight of the sector.
Pakistan has stepped up efforts recently to regulate its digital asset sector and is exploring digital currency initiatives as part of broader measures to reduce cash usage.
In January, Pakistan signed a memorandum of understanding with a company affiliated with World Liberty Financial, a crypto-based finance platform launched in September 2024 and linked to US President Donald Trump’s family to explore the use of a dollar-linked stablecoin for cross-border payments.
