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Express Tribune
05-03-2025
- Business
- Express Tribune
Bilal bin Saqib: The new chief advisor on Pakistan Crypto Council
Bilal Bin Saqib is also highlighted as Forbes 30 under 30 innovators. PHOTO: BILAL SAQIB WEBSITE Listen to article 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.
Express Tribune
05-03-2025
- Business
- Express Tribune
Bilal Bin Saqib: The new chief advisor on Pakistan Crypto Counci
Bilal Bin Saqib is also highlighted as Forbes 30 under 30 innovators. PHOTO: BILAL SAQIB WEBSITE Listen to article 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.
Arab News
05-03-2025
- Business
- Arab News
Pakistan appoints adviser as it moves to set up national crypto council
KARACHI: The government announced on Wednesday the appointment of a lead adviser to Finance Minister Muhammad Aurangzeb on the Pakistan Crypto Council to develop policy measures ahead of adopting digital currencies, according to an official statement. The crypto council is a proposed advisory body the Pakistan government is considering establishing to oversee the development and regulation of the country's digital asset ecosystem. The initiative aims to ensure Pakistan's engagement with digital assets is secure, compliant and sustainable. This appointment of the adviser also signifies a shift in Pakistan's stance on cryptocurrencies, moving from previous resistance to a more open and regulatory-focused approach. According to the finance division's statement, Bilal Bin Saqib, a Web3 investor and strategic adviser recognized by Forbes, has been named as the lead adviser. He featured in Forbes 30 under 30 and received an MBE (Member of the British Empire) in 2023 for his contributions to the UK's National Health Service. Saqib has background in blockchain and digital finance, making him well-positioned to guide Pakistan's approach to cryptocurrency regulation. 'Mr. Saqib's appointment underscores our commitment to embracing emerging technologies while ensuring a secure and transparent financial system,' the finance minister was quoted as saying in the statement. 'We are confident that his leadership will guide the development of a sound and effective regulatory framework, fostering innovation and sustainable growth in Pakistan's crypto sector.' As the chief adviser, Saqib will contribute to policy development for integrating cryptocurrency and blockchain into Pakistan's financial system while ensuring alignment with global regulatory standards. He will also advise on leveraging artificial intelligence (AI) to enhance government efficiency and decision-making processes. 'Cryptocurrency and blockchain technology hold immense potential for Pakistan, particularly for the youth, who are the driving force behind our nation's digital future,' the finance minister's newly appointed adviser said. '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.' Pakistan has maintained a cautious stance on cryptocurrencies in the past, citing financial security and regulatory risks. However, the government has acknowledged more recently the presence of over 20 million active digital asset users in the country and aims to address challenges such as high transaction fees through proper regulation.
