Pakistan, Hong Kong forge major digital finance push

Pakistan and Hong Kong have made progress towards expanding cooperation in digital finance and technology following a series of high-level meetings

Pakistan and Hong Kong have made progress towards expanding cooperation in digital finance and technology following a series of high-level meetings involving Minister of State and Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib.

According to a PVARA statement, Bilal Bin Saqib met Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority. The meeting focused on tokenised capital markets, digital bonds and settlement infrastructure.

Bilal said Hong Kong could play an important role in connecting Pakistani companies with international investors. He added that Pakistan had established the regulatory foundations for its virtual assets sector.

The PVARA chairman said the next objective was to turn the regulatory framework into tangible economic outcomes. He said Pakistan was particularly focused on practical progress in tokenised capital markets and regulatory technology.

According to the statement, Pakistan has also expressed interest in learning from Hong Kong’s approach to tokenisation. The areas of interest include government securities, Sukuk and other financial assets.

During his visit, Bilal also met Hong Kong’s Secretary for Financial Services and the Treasury, Christopher Hui. The two sides discussed institutional cooperation, technical exchanges and opportunities for practical collaboration in the financial sector.

Bilal further held a meeting with Duncan Chiu, a member of Hong Kong’s Legislative Council. Discussions covered potential cooperation in fintech, Web3, artificial intelligence and cybersecurity.

The meetings highlighted the growing importance of digital technologies in the financial sector and the potential for greater collaboration between Pakistan and Hong Kong.

Bilal reaffirmed Pakistan’s commitment to developing a secure, transparent and integrated virtual asset ecosystem while strengthening links with leading international financial centres.