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Articles for tag: Crypto, deal, explore, family, Latest, linked, Pakistan, Payments, Signs, Stablecoin, Trump

January 14, 2026

News Desk

Pakistan signs crypto deal linked to Trump family to explore stablecoin payments

The finance minister says digital innovation will be pursued in line with regulations and the national interest Finance Minister Muhammad Aurangzeb signs MoU with SC Financial Technologies on 14 January. — Photo via X/@PakistanVARA Pakistan has signed an agreement with a company linked to World Liberty Financial, the main cryptocurrency business linked to US President Donald Trump’s family, to explore the use of a dollar-pegged stablecoin for cross-border payments, the government said on Wednesday. The Virtual Asset Regulatory Authority of Pakistan said it had signed a memorandum of understanding with SC Financial Technologies, which it described as an affiliate of

October 27, 2025

News Desk

SBP keeps policy rate at 11% for third consecutive time

Record external term payments of $32.5bn add pressure amid weak FDI and portfolio outflows State Bank of Pakistan. Photo: Archive The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) on Monday decided to keep the interest rate unchanged at 11%, marking the “fourth” consecutive time the rate has been kept steady. The decision reflects a cautious approach as the central bank balances support for a fragile economic recovery against domestic and external risks, despite calls from the business community to cut interest rates to lower borrowing costs and boost growth. In a meeting held today, the cautious

September 10, 2025

News Desk

Crypto used for ransom payments in Pakistan

Bitcoin, Ethereum, Dogecoin, Ripple, Litecoin dealerships are placed on the PC board in this image. – Reuters Bill proposes an independent council with members of experts. Mandviwalla asks Crypto’s legitimacy through Hawala. Dilawar Khan urges the 5%single tax. Islamabad: A Senate Committee said on Wednesday that encryption is increasingly used for ransom payments in Pakistan, with the kidnappers no longer demanding cash. Senator Mohsin Aziz revealed this during a meeting of the Senate Finance Committee, chaired by Salem Mandviwalla, who examined the “virtual bill of assets 2025.” The Deputy Governor of the State Bank informed the group that the encryption

May 10, 2025

News Desk

Sindh Govt breaks restaurants by rejecting card payments

This representation picture shows a woman who pays by credit card at a restaurant at Playa del Ingles, Maspalomas on the island of Gran Canaria, Spain, May 3 2022. – Reuters Related measures to be taken against restaurants. He observes issues in various restaurants in Clifton. Legal action to be taken against this serious violation. The Sindh government has announced a steady stance on restaurants and other commercial facilities that reduce debit and credit card payments by customers. Officials said strict actions will be taken against businesses such as restaurants, shopping malls, cafes and Biryani centers that do not offer

April 25, 2025

News Desk

Debt payments reduce reserves by $ 367 million

Listen to the article Karachi: Due to external debt payments, Pakistan’s state bank (SBP) of currency reserves decreased by $ 367 million during the week, reaching $ 10.21 billion from April 18, according to figures released on Thursday. The country’s total wet reserves amounted to $ 15.44 billion, with $ 5.23 billion held by commercial banks. “Earlier, on March 21, 2025, SBP had reported a $ 540 million reduction in,” Arif Habib Limited Sana Tawfiq’s research leader while speaking at Express Tribune. The Central Bank attributed the last decline to foreign debt payments, stating: “During the week ending April 18,

March 29, 2025

News Desk

Transfer to electronic payments is increasing

Listen to the article Karachi: The Pakistani State Bank (SBP) has published the quarterly revision of payment systems for the second quarter (OCT-Dec) of the financial year 2024-25, which reflects remarkable changes in digital payments. The report emphasizes that the digital payment landscape in Pakistan is becoming stronger, with increasing transactions during 2qfy25. Retail transactions recorded an increase of 11% in volume, reaching 2,143 million, and their value increased by 12% to Rs 154 trillion. The increase in value is mainly due to mobile applications payments, internet payments and Over-Counter (OTC) transactions in bank branches. The report said that digital

December 21, 2024

News Desk

87% retail payments made through digital channels: SBP

A person pays using their mobile phone with the instant online payment method at a store on April 1, 2024. — Reuters The share of digital payments in 4Q24 increased to 27%. Retail trade up 8% in volume in 1Q25. 251 million (13%) transactions were processed through OTC channels. KARACHI: Amid the government’s strenuous efforts to digitize the economy, the State Bank of Pakistan (SBP) has revealed significant advances in payment ecosystems and infrastructure with 87% of all retail transactions being processed through digital channels. The News reported on Saturday. In its quarterly review of payment systems for the first

December 12, 2024

News Desk

Department of Energy reveals details of massive capacity payments to PSOs

A representational image of pylons and power lines. — Reuters/File Five IPPs received capacity payments of more than 50% of fees in FY23. The government disbursed over 769 billion. Rs to 12 IPPs in FY 2023-24: document. A list of PSOs that produced electricity at the highest prices was published. Days after the government approved “settlement agreements” with several independent power producers (IPPs) to reduce high electricity tariffs in the country, the Ministry of Energy presented details of the huge capacity payments to power companies over the past two fiscal years. The Ministry of Power informed the Upper House that

October 12, 2024

News Desk

With an increase of 8%, the share of digital payments increases to 84% in 2024

A person pays using their mobile phone with the instant electronic payment method known as PIX, at a store in Rio de Janeiro, Brazil, April 1, 2024. — Reuters Online banking users see 25% growth, State Bank says. With a boost of 62%, 1,346 million transactions worth 70 trillion were recorded. Customers make 2,697 million payments through mobile app wallets. KARACHI: In a rather positive development on the economic indicators front, the share of digital payments in the country saw a remarkable growth of 8% to stand at 84% — from the previous 76% — in the financial year 2024

July 24, 2024

News Desk

The rupee facilitates rising debt payments

KARACHI: The Pakistani currency fell by Rs 0.11 to close at Rs 278.41 against the US dollar in the interbank market on Tuesday, continuing its slide for the second straight day on rising external debt payments. According to State Bank of Pakistan (SBP) data, the rupee had closed at Rs 278.30 against the dollar on Monday. The downgrade came after global rating agency Fitch questioned how much external debt Pakistan had to repay in the 2024-25 fiscal year and what resources were available for payments, such as a return to commercial borrowing. Recent estimates indicate that Pakistan has to pay

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