The federal government on Wednesday appointed Bilal bin Saqib as the chief adviser to the finance minister on the recently announced Pakistan Crypto Council.

On February 25, the finance ministry announced it was considering “establishing a National Crypto Council” to adopt emerging digital currencies in line with global trends. An official statement said Finance Minister Muhammad Aurangzeb had a meeting on digital assets with a foreign delegation, “including President Trump’s advisers for digital assets”.

A press release issued today by the Finance Division said Saqib’s appointment as chief advisert “reaffirms Pakistan’s commitment to embracing technological advancement while ensuring sound policy measures that support the national economy, digital transformation, and a secure, transparent financial system for all”.

According to Forbes, Saqib — who is part of their ‘30 under 30’ list — is the cofounder of Tayaba, which the publication describes as “a social enterprise that aims to provide solutions to the water crisis in Pakistan”.

The press release noted that Saqib had been included in the Forbes list, calling him “a Web3 investor, strategic adviser, and thought leader in the blockchain space.” He also received his MBE in 2023 for contributions to the UK’s National Health Service, the statement added.

An MBE, which stands for “Member of the Most Excellent Order of the British Empire”, is awarded for an outstanding achievement or service to the community which has had a long-term, significant impact.

“In this pivotal role as the chief adviser to the finance minister on the Pakistan Crypto Council, Saqib will lend his great knowledge and experience to Pakistan’s efforts to integrate cryptocurrency and blockchain technologies into its financial ecosystem while ensuring the development of a robust regulatory framework for digital assets in alignment with global best practices,” the press release said.

It added: “Additionally, he will advise the finance ministry on exploring the use of artificial intelligence (AI) to enhance government efficiency, optimise decision-making processes and drive innovation in public sector operations.”

The Finance Division called Saqib’s appointment “a significant step forward” in Pakistan embracing digital currencies and assessing their impact on the national economy.

Aurangzeb welcomed Saqib’s appointment and expressed how crucial his role would be in guiding Pakistan through the landscape of digital currency, according to the statement.

“Saqib’s appointment underscores our commitment to embracing emerging technologies while ensuring a secure and transparent financial system,” Aurangzeb was quoted as saying. “We are confident that his leadership will guide the development of a sound and effective regulatory framework, fostering innovation and sustainable growth in Pakistan’s crypto sector.”

According to the press release, Saqib himself commented on his appointment, saying: “Cryptocurrency and blockchain technology hold immense potential for Pakistan, particularly for the youth, who are the driving force behind our nation’s digital future.

“With the right strategies and regulatory framework, we can empower our country’s youth, foster economic growth, and establish Pakistan as a leader in the space.”

The Finance Division called Saqib’s appointment a “critical achievement” in Pakistan’s efforts to become a regional leader in the cryptocurrency space and ensure that the country was prepared to handle the regulatory, economic, and security challenges posed by the emerging sector.