Advisor to the Finance Minister holds meeting with Middle East fintech investors

ISLAMABAD: Khurram Schehzad, Advisor to the Finance Minister of Pakistan, held a high-level strategic meeting with a delegation of leading international fintech investors from the Middle East, highlighting Pakistan’s improving macroeconomic stability, reform momentum, and expanding digital investment landscape.

The delegation was led by Dr John Sfakianakis, Chairman, Fintech Solutions Holding, a globally recognized economist and investment strategist, and Kirill Smolin, Chief Executive Officer, Fintech Solutions Holding, an expert in digital technologies and fintech. The visit was facilitated by Tech Avenue (Pvt.) Ltd., represented by its Chief Executive Officer, Obaid Ul Haq, and its Advisor to the Board, Khuram Rahat.

During the meeting, the Advisor provided a comprehensive briefing on Pakistan’s economic stabilisation, fiscal reforms, and renewed global confidence, noting that consistent policy implementation and structural reforms have strengthened macroeconomic fundamentals and improved the country’s investment outlook.

Pakistan has shifted focus from aid to trade, investment: Aurangzeb

A key focus of the discussion was the Government of Pakistan’s Digital Pakistan Vision, aligned with the broader reform agenda to promote financial inclusion and economic formalization.

The Advisor highlighted the Cashless/ Digital Pakistan initiative, structured around three pillars: digital payments innovation and adoption, digital public infrastructure, and digitization of government payments. These initiatives are supported by Raast, Pakistan’s instant payment system, which is enabling real-time, low-cost, and interoperable digital payments nationwide.

Providing an update on financial sector modernization, Khurram Schehzad noted progress under the State Bank of Pakistan’s Retail Digital Banking initiative, which has introduced a dedicated regulatory framework in line with international best practices. He shared that easypaisa Digital Bank has been operational for nearly a year, while Mashreq Digital Bank has also commenced operations in Pakistan, reflecting strong international confidence in the country’s regulatory environment. Several other digital banks are advancing toward launch, further strengthening the digital ecosystem.

The Advisor also briefed investors on Pakistan’s forward-looking initiatives in Blockchain, Web3.0, and Virtual Assets, including work on a responsible regulatory framework and engagement with reputable global platforms to support innovation while ensuring compliance and investor protection.

The investors expressed strong appreciation for the clarity of reforms and policy direction, noting that Pakistan’s integrated approach to macroeconomic stability, digital infrastructure, and emerging technologies presents compelling opportunities for long-term investment and strategic partnerships.

The meeting concluded with mutual agreement to remain engaged as discussions progress, reaffirming Pakistan’s position as a reform-driven, innovation-ready, and increasingly competitive investment destination.

Copyright Business Recorder, 2025