Pakistan advances cashless economy with focus on digital banks, financial inclusion

Minister for Finance and Revenue Senator Muhammad Aurangzeb stated on Thursday that the national drive towards digitisation had gained strong momentum, with performance targets being pursued through a coordinated approach that encompasses digital infrastructure, payment systems and rails, as well as the digitisation of government-related payments. He said the push was aimed at broadening digital acceptance and reducing reliance on cash. He was talking to a delegation comprising Douglas Feagin, President of Ant International and Senior Vice President of Ant Group; Irfan Wahab Khan, Chairman of Easypaisa Digital Bank; and Jahanzeb Khan, President and Chief Executive Officer of Easypaisa Digital Bank, according to a press release. The meeting focused on accelerating Pakistan's transition towards a cashless and digitally enabled economy, with emphasis on financial inclusion, stronger digital payments and wider access to formal financial services for small businesses.