Pakistan and World Liberty Financial sign MoU to promote digital financing and initiate important financial and technical partnership initiatives with global financial institutions.
An important agreement was also signed between the Ministry of Finance and the American company SC Financial Technologies LLC. On this occasion, a delegation from SC Financial Technologies also met Prime Minister Shehbaz Sharif and discussed the possibilities of bilateral financial and technical cooperation. Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister, field Marshal Asim Munir, Chairman of Pakistan Virtual Assets Regulatory Authority, and other senior officials were also present in the meeting.
Under the agreement and MoU, Pakistan and global financial institutions will work on joint projects in the fields of investment, financial services, digital payments, and advanced technologies, which will not only improve the financial system in Pakistan but are also expected to accelerate development projects.
The Federal Ministry of Finance has said that these measures will play an important role in stabilizing the country’s economy and strengthening Pakistan’s financial relations internationally. Prime Minister Shehbaz Sharif, while apprised of the delegation of the vision of Digital Pakistan, said that transparency, digital connectivity, and public access are the government’s priorities.
On this occasion, the CEOs of SC Financial Technologies and World Liberty Financial expressed interest in partnering in a secure and transparent digital payment system in Pakistan. CEO Zachary Witkoff said that Pakistan is a strong candidate for global digital finance and the country can play an important role in the digital economy.
Deputy Prime Minister and Foreign Minister Ishaq Dar said that strengthening the foundations of the economy is the need of the hour, and the use of modern technology in the financial sector can make the country more stable in the global financial system.
This partnership will open new doors for cross-border digital payments, the use of stablecoins, and financial innovation in Pakistan, which is expected to increase opportunities for domestic and international investors in Pakistan.
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