ISLAMABAD: Federal Minister for Finance and Revenue, Muhammad Aurangzeb, on Thursday outlined the government’s perspective on the growing scale of virtual asset activity, emphasizing the need to bring such activity within a regulated framework to address risk management, compliance requirements, and consumer protection, while simultaneously fostering innovation in emerging financial technologies.
The minister met a delegation comprising Douglas Feagin, President of the Ant International and Senior Vice President of the Ant Group; Irfan Wahab Khan, Chairman of the Easypaisa Digital Bank; and Jehanzeb Khan, President and Chief Executive Officer of the Easypaisa Digital Bank.
The meeting focused on accelerating Pakistan’s transition towards a cashless and digitally enabled economy, with particular emphasis on expanding financial inclusion, strengthening digital payments, and leveraging technology to widen access to formal financial services for individuals and small businesses across the country.
Aurangzeb underscored that the national drive towards digitization has gathered strong momentum, including at the highest level, and that clear performance targets are being pursued through a coordinated approach across key pillars covering digital infrastructure, payment systems and rails, and digitization of government-related payments.
He noted that policy coordination and implementation have been strengthened through high-level ownership to ensure that cross-cutting decisions are taken swiftly and executed effectively, enabling faster progress in broadening digital acceptance and reducing reliance on cash.
Douglas Feagin conveyed appreciation for the opportunity to engage with the Finance Minister and reaffirmed Ant International and Ant Group’s commitment to supporting Pakistan’s digital economy agenda by bringing global experience, technology capabilities, and operational know-how gained across Asia to help expand cashless payment adoption and digital financial services.
He highlighted that the licensing of Easypaisa as a digital bank presents an important opportunity to accelerate capability building, deepen outreach, and advance the shift towards digital transactions, while acknowledging that cash remains prevalent and that sustained efforts are required to expand nationwide adoption.
Aurangzeb emphasized the role that digital banks and fintech platforms can play in enabling inclusive credit and targeted lending, including for underserved segments such as small farmers. He noted that agriculture lending needs to reach a broader base of smallholders and that scalable digital platforms can help improve outreach and sustainability, particularly in initiatives aimed at expanding access to finance.
He also highlighted the importance of diversifying the investor base for domestic public debt and reducing friction costs in distribution by facilitating retail participation through digital platforms, enabling citizens to invest in secure and liquid government securities through accessible channels.
Irfan Wahab Khan shared that Easypaisa is progressively transitioning from payments to broader financial services, with a focus on financial inclusion, customer education, and the development of savings and wealth management offerings.
It was noted that expanding distribution of regulated investment products requires sustained awareness-building among retail customers, and that digital platforms can provide an effective channel for such education.
The discussion also covered ongoing enhancements in cross-border and wallet-based payment capabilities, leveraging international networks to improve convenience and reduce transaction frictions for users.
Aurangzeb also shared the government’s perspective on the increasing scale of virtual asset activity and the importance of bringing such activity into a regulated framework to address risk management, compliance considerations, and consumer protection, while enabling innovation in emerging financial technologies.
Copyright Business Recorder, 2025
