Finance minister says Pakistan reviewing tokenisation of Eurobond debt
Finance Minister Muhammad Aurangzeb said the government is reviewing the tokenisation of Pakistan's existing Eurobond debt. He spoke at a dialogue on digital assets and banking organised by the Pakistan Banks' Association and LUMS.
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- The Ministry of Finance and the government are reviewing tokenising existing Eurobond debt.
- Banks will keep restrictions on investing, trading or holding virtual assets with their own funds or customer deposits.
- The Virtual Assets Act 2026 gives a regulatory authority the job of licensing and supervising service providers.
Finance and Revenue Minister Muhammad Aurangzeb said the Ministry of Finance and the government are reviewing the tokenisation of Pakistan's existing Eurobond debt. He made the remarks while addressing a dialogue on digital assets and the future of banking, according to The Express Tribune and Business Recorder.
The event was organised by the Pakistan Banks' Association in collaboration with LUMS. Business Recorder reported that Aurangzeb addressed it virtually on Monday.
Aurangzeb said banks should adopt digital assets responsibly, while restrictions on banks investing, trading or holding virtual assets through their own funds or customer deposits will remain. He said banks remain responsible for foreign exchange compliance.
He said, "Pakistan needs financial innovation, and digital assets must complement the broader digital transformation." He said innovation should deliver lower-cost remittances, faster business payments, accessible financing for entrepreneurs and more productive investment. He added that digital transformation must come with regulatory safeguards, financial stability and institutional oversight.
Pakistan has set up a statutory framework through the Virtual Assets Act 2026. The law makes the Pakistan Virtual Assets Regulatory Authority responsible for licensing and supervising virtual asset service providers. Aurangzeb said the next priority is effective implementation through capable supervision and institutional coordination.
He said the State Bank of Pakistan has introduced a conditional mechanism for extending banking facilities to licensed entities, subject to due diligence and segregation of client funds. Accounts opened for entities holding no-objection certificates would serve a limited purpose until licensing is complete.
Aurangzeb said tokenisation could improve remittance channels, including transactions linked to Roshan Digital Accounts. Pakistan received $41.6 billion in remittances last fiscal year, and he said first-quarter trends suggest inflows could exceed $44 billion.
He also said the government had achieved macroeconomic stability and is focused on export-led growth. Banks, he said, need to make financing easier to access for small and medium enterprises and agriculture.
Why it matters
Overseas Pakistanis, businesses and banks could be affected by changes in remittance channels and digital asset rules. The government says such tools could lower costs and bring more people into the formal economy.
