KARACHI: Pakistan is on its way to introducing a digital currency like cryptos and bitcoins in the future, said a senior official of the central bank on Thursday.

A press release issued by Total Communication quoted Shoukat Bizinjo, Additional Director, Digital Financial Services Group, SBP, as saying that central banks around the world, including SBP, were studying CBBCs (callable bull/bear contracts) to launch digital currency in their respective countries.

“The SBP is reviewing and consulting with other central banks in this regard (CBBCs and digital currency),” he said while speaking at the 16th international conference on Mobile Commerce, organised by Total Communications.

The CBBC are structured products. They are leveraged investments that track the performance of the underlying assets without requiring investors to pay the full price required to own the actual assets.

Published in Dawn, June 2nd, 2023