Licensed firms offering Islamic financial services must adhere to the committee’s rulings. The Act also provides for the creation of a virtual assets appellate tribunal to hear appeals against PVARA decisions.... The tribunal will operate independently and include experts in law, finance, and technology. Pakistan’s push into the digital currency space began in 2021 when the SBP included CBDC in its roadmap for banking digitisation.... Momentum has grown in recent months, with a recent meeting