The new chief advisor on Pakistan Crypto Counci

Pakistan has appointed Bilal Bin Saqib as the Chief Advisor to the Finance Minister for the Pakistan Crypto Council, a significant step as the country moves towards establishing a structured regulatory framework for digital assets.

The announcement was made on Wednesday by the Finance Division, which stated that the move reaffirms Pakistan’s commitment to technological advancement, economic digitization, and financial security.

“Bilal Bin Saqib will lend his extensive knowledge and experience to Pakistan’s efforts to integrate cryptocurrency and blockchain technologies into its financial ecosystem while ensuring the development of a robust regulatory framework for digital assets in alignment with global best practices,” the statement read.

Saqib, a Forbes-recognized entrepreneur and Web3 investor, has been an influential figure in the blockchain space. His appointment comes at a time when Pakistan is exploring digital currency adoption amid evolving global regulations.

The finance ministry noted that Saqib’s expertise will also extend to artificial intelligence (AI) applications in governance, aimed at improving efficiency, optimizing decision-making, and fostering public-sector innovation.

His appointment, the statement added, marks a critical step in Pakistan’s efforts to mitigate risks, ensure financial security, and assess the broader impact of cryptocurrencies on the national economy.

“Saqib’s appointment underscores our commitment to embracing emerging technologies while ensuring a secure and transparent financial system. We are confident that his leadership will guide the development of an effective regulatory framework, fostering innovation and sustainable growth in Pakistan’s crypto sector,” the ministry said.

Who is Bilal Bin Saqib?

A London-based entrepreneur, Bilal Bin Saqib has been at the forefront of digital innovation and social impact. Recognized by King Charles III, the late Queen Elizabeth II, and the Mayor of London, Saqib’s work spans across blockchain technology, crypto investments, and social entrepreneurship.

In 2023, he was awarded an MBE (Member of the British Empire) for his humanitarian efforts during the COVID-19 pandemic, during which he led the One Million Meals initiative, delivering over 100,000 meals to NHS staff and vulnerable populations across the UK.

His academic credentials include a Master’s in Social Innovation and Entrepreneurship from the London School of Economics (LSE). He also received the 1632nd Points of Light Award, a recognition granted by the British Prime Minister to individuals making outstanding contributions to their communities.

Beyond his work in fintech, Saqib co-founded Tayaba, a social enterprise focused on Pakistan’s water crisis, introducing the H2O Wheel, an innovative water transportation device designed to ease the burden on rural communities.

Pakistan’s crypto roadmap

Pakistan’s cryptocurrency landscape has been evolving, with the government signaling its intent to formalize digital asset regulations. The appointment of a dedicated crypto advisor is viewed as a strategic move to align Pakistan’s policies with global financial trends.

In his first remarks after the appointment, Saqib emphasized the transformative potential of cryptocurrency in Pakistan, particularly for the younger generation.

“Cryptocurrency and blockchain technology hold immense potential for Pakistan, particularly for the youth, who are the driving force behind our nation’s digital future. With the right strategies and regulatory framework, we can empower our country’s youth, foster economic growth, and establish Pakistan as a leader in the space,” Saqib stated.

The finance ministry sees his appointment as a crucial milestone in Pakistan’s digital transformation, ensuring that the country is prepared to handle the regulatory, economic, and security challenges posed by this rapidly evolving sector.