Government and JS Bank discuss expanding digital payments, financial inclusion and formal documentation nationwide.
Pakistan is stepping up efforts to build a cashless economy by expanding digital financial services, encouraging electronic payments and improving financial inclusion across the country.
The government has reiterated its commitment to accelerating the transition toward digital transactions during a meeting between Minister of State for Railways and Finance Bilal Azhar Kayani and a delegation from JS Bank.
The discussions focused on strategies to expand digital financial services and support Pakistan’s broader vision of a digitally empowered economy.
The JS Bank delegation was led by President and Chief Executive Officer Basir Shamsie. Noman Azhar, Chief Officer of ZINDIGI – JS Bank, and Atif Ishaque, Chief Business Officer of ZINDIGI – JS Bank, also attended the meeting.
During the discussions, JS Bank representatives appreciated the government’s policy measures aimed at encouraging cashless business models and increasing participation in the formal financial system. The initiatives are expected to support greater adoption of digital payment methods across different sectors of the economy.
The minister highlighted the importance of stronger cooperation between the government and private financial institutions in achieving the country’s digital finance objectives. He noted that Prime Minister Shehbaz Sharif is closely overseeing efforts to advance the cashless economy and that considerable progress has been made during the past year.
According to the Ministry of Finance, the government considers digital payments an important tool for improving transparency, making transactions more convenient and bringing a larger share of economic activity into the documented economy.
The expansion of digital financial services could also help businesses and consumers move away from traditional cash-based transactions. Wider access to digital payment platforms is expected to strengthen financial inclusion while making formal financial services more accessible to a broader segment of the population.
Both sides agreed to maintain cooperation on expanding digital financial services, improving digital infrastructure and promoting wider acceptance of cashless payment solutions.
The government’s continued focus on digitalization reflects its broader efforts to modernize Pakistan’s financial system and encourage a more transparent, documented and technology-driven economy.