Minister of State and Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), Bilal Bin Saqib, held a series of high-level meetings with senior World Bank Group leadership in Bangkok, Thailand. These engagements took place during the 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group.
Specifically, the discussions focused on modernising Pakistan’s financial infrastructure, mobilising international capital, and strengthening regulatory institutions. Furthermore, the meetings aimed to position Pakistan to benefit from the next generation of global financial innovation. This includes asset tokenisation, digital capital markets, artificial intelligence (AI), cross-border payments, and technology-enabled regulatory supervision.
PVARA Chairman Meets World Bank Leadership
First, Chairman PVARA met with Imad N. Fakhoury, Regional Vice President for the Middle East and Central Asia at the International Finance Corporation (IFC). The IFC serves as the World Bank Group’s private-sector development arm. During the meeting, both leaders explored potential collaboration on tokenised bonds and sukuk, digital financial infrastructure, and cross-border payments. Additionally, they discussed the mobilisation of international private capital. The engagement also examined how emerging financial technologies could help Pakistan attract investment, deepen its capital markets, and create new financing opportunities for both the public and private sectors.
Moreover, Bilal Bin Saqib met with Jorge Familiar, Vice President and Treasurer of the World Bank Group. Together, they explored potential cooperation on digital bond issuance, asset tokenisation, and AI-enabled financial operations. In addition, their discussions covered opportunities for knowledge exchange and institutional capacity building. They also examined how to apply emerging technologies to improve financial market efficiency, settlement infrastructure, and access to capital. At the same time, they emphasised maintaining financial stability and investor protection.
Meanwhile, Bilal Bin Saqib participated in an investor roundtable organised by Barclays. Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and State Bank of Pakistan Governor Jameel Ahmad also joined him at the session. The roundtable brought international investors together to discuss Pakistan’s improving macroeconomic fundamentals and ongoing structural reforms. Furthermore, the officials highlighted local investment opportunities and Pakistan’s renewed engagement with international capital markets.
Strengthening Regulation with AI & Blockchain
In a separate engagement, Bilal Bin Saqib met with key leaders from the World Bank Group’s technology division. Specifically, he held talks with Sangbu Kim, World Bank Group Vice President for Digital & AI, alongside Jonathan Gen Nagao, Director for Data & AI, and Ozan Sevimli, Acting Director of Strategy & Operations. This meeting focused on the potential application of AI to financial regulation. In particular, they discussed strengthening supervisory capabilities, institutional expertise, and digital asset oversight. Additionally, the leaders explored asset tokenisation. They also discussed opportunities to leverage global technical expertise to strengthen Pakistan’s regulatory infrastructure and accelerate the development of its digital economy.
Subsequently, Chairman PVARA advanced the institutional agenda by meeting Zinga Venner, Vice President and World Bank Group Controller. Junxue Chu, Director of Trust Funds and Loan Operations, and Thomas Puschnik, Solutions and Transformation Manager, also joined the meeting. During the discussion, the officials explored blockchain-enabled financial transparency and AI-powered regulatory supervision. Moreover, they looked at opportunities to strengthen the technological and institutional foundations of Pakistan’s emerging digital asset regulatory framework.
Building the Future of Pakistan’s Digital Economy
Reflecting on today’s series of engagements, Minister of State and PVARA Chairman Bilal Bin Saqib outlined a clear roadmap for the country. Bilal Bin Saqib stated:
Pakistan must move beyond simply adopting emerging financial technologies to building the institutions that will shape the future of finance.
From tokenised capital markets and more efficient cross-border payments to AI-powered regulation, our ambition is to unlock international investment, strengthen financial transparency and create real economic opportunities for Pakistan. The next chapter of Pakistan’s economic transformation must be driven by innovation, backed by credible institutions and anchored in financial stability.
Collectively, today’s engagements reflect Pakistan’s broader ambition to move beyond merely establishing a regulatory framework. Instead, the country is exploring the financial infrastructure, institutional partnerships, and technological capabilities required to participate in the evolving global digital economy. With discussions spanning sovereign debt tokenisation, digital capital markets, AI-powered supervision, and international private capital mobilisation, PVARA is actively exploring how responsible financial innovation can support Pakistan’s economic development priorities.
Ultimately, these meetings reinforced the importance of building credible institutions and strengthening regulatory safeguards. Consequently, this ensures that innovation contributes to financial stability, investor confidence, and sustainable economic growth. Moving forward, Pakistan’s next phase of digital finance development will focus not only on regulating emerging technologies. Rather, the country will also explore how to responsibly deploy these technologies to attract investment, modernise financial markets, and unlock new opportunities for the national economy.
