Tag: Senate Standing Committee on Finance

Pakistan’s SBP Ties Digital Assets to Forex Rules Amid $21 Billion Crypto Investments Debate

The State Bank of Pakistan has linked digital assets to the Foreign Exchange Regulation Act, capping outbound transfers at $100,000 annually. The Senate Finance Committee is debating the PVARA Bill as concerns mount over $21 billion invested by Pakistanis in crypto markets.

Senate Panel Calls on Banks to Promote PayPak Cards Over International Payment Giants

The Senate Finance Committee has called on Pakistani banks to prioritize PayPak, the country’s local payment card, over international networks like Visa and MasterCard. This move aims to strengthen domestic payment systems and curb foreign exchange outflows.