AI a powerful engine for financial inclusion

The Express Tribune reported that Bilal Bin Saqib, chairman of the Pakistan Virtual Assets Regulatory Authority, believes artificial intelligence and tokenisation could become the most potent tools for financial inclusion in the developing world. He added that this would hold only if the systems were designed around people currently outside the formal financial system. The remarks came in a keynote at a forum on social business, youth and technology.

Saqib, who also serves as minister of state, framed the moment as a choice for emerging economies, since the rules governing global finance are being rewritten. He argued that the obstacle is no longer technology but the lack of workable infrastructure and regulation, along with the will to build them. Citing global figures, he noted that roughly 1.3 billion adults still have no formal financial account, even though about 900 million of them own a mobile phone.

Saqib also pointed to Pakistan's 2018 move to shut banks off from digital assets. That position was reversed when the Virtual Assets Act 2026 reopened the sector within a defined legal framework. Subsequent steps included a regulatory sandbox and rules for licensing firms that offer virtual asset services.