Karachi: Bilal Bin Saqib, Minister of State and Chairman of the Pakistan Virtual Assets Regulatory Authority, engaged in a dialogue with Mufti Taqi Usmani concerning the Shariah compliance of digital assets. The discussions focused on safeguarding Pakistanis from potential financial threats associated with these technologies.

According to Radio Pakistan, Bilal Bin Saqib emphasized a collective goal of preventing fraud, exploitation, and financial harm, underscoring the need for a comprehensive assessment of blockchain technologies, digital assets, stablecoins, and tokenized assets. He highlighted that these technologies require both technical and Shariah evaluations, rather than being assessed from a singular perspective.

Bilal Bin Saqib expressed optimism about ongoing collaborations among scholars, regulators, and industry experts to ensure that Pakistan’s approach to digital assets aligns with Islamic principles and an in-depth understanding of technological advancements. This dialogue marks a step towards developing a framework that incorporates religious values and modern technological insights.