Pakistan Crypto Council Explores Collaboration with Malaysia on Digital Finance

Bilal Bin Saqib, the CEO of the Pakistan Crypto Council (PCC), engaged with Malaysia’s Foreign Minister, Mohamad Bin Haji Hasan, to discuss possible joint ventures in blockchain technology, digital assets, and Shariah-compliant finance, according to a statement released by the Finance Division on Tuesday.

As Pakistan makes headway in formalizing its approach to cryptocurrency, the government recently appointed Bilal bin Saqib as the Chief Advisor to the Finance Minister for the PCC.

According to the Finance Division, Saqib’s meeting with the Malaysian foreign minister sought to promote a calculated alliance in digital finance.

“In a significant move towards reinforcing regional collaboration within the digital economy, Malaysia’s Foreign Minister, Mohamad Bin Haji Hasan, convened with Bilal Bin Saqib, CEO of the Pakistan Crypto Council (PCC), to investigate prospects for cooperation in blockchain technology, digital assets, and Shariah-compliant finance.

“The meeting’s central focus was to establish the foundation for a Pakistan-Malaysia Digital Finance Partnership — a progressive initiative designed to jointly create FATF-compliant, Shariah-aligned digital asset structures. These structures are intended to serve as benchmarks for the wider Organisation of Islamic Cooperation (OIC),” the statement elaborated.

During the event, Saqib highlighted that Malaysia’s prominence in Islamic finance, combined with Pakistan’s advancements in crypto regulation, presents “a synergistic alliance.”

He stated, “Collectively, we are presented with a noteworthy prospect to define universal benchmarks for ethical innovation within digital finance — spanning halal stablecoins and tokenised sukuks, to compliant regulatory frameworks and avenues for youth empowerment,” according to the statement.

As per the statement, both parties showed strong concurrence on crucial cooperation areas, which included regulatory harmonization between financial bodies and the creation of cross-border talent and Web3 education programs.

“This noteworthy interaction signifies the commencement of a more profound economic and technological alliance between Pakistan and Malaysia — propelled by a mutual aspiration to shape the trajectory of finance through innovation rooted in values and strategic partnerships.”

Earlier this month, the Pakistani government also designated Changpeng Zhao (CZ), the founder of Binance and a notable figure in Web3, as a strategic advisor to the PCC. Finance Minister Muhammad Aurangzeb hailed this as a “historic moment for Pakistan”.