Tariq Bajwa: International remittance through blockchain technology launch

Keynote address by Mr Tariq Bajwa, Governor of the State Bank of Pakistan, at the launching ceremony of international remittance through block chain technology, Islamabad, 8 January 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Ladies and Gentlemen!

Assalam o Alaikum and Good Evening!

1. It is indeed very exciting for me to launch this initiative by Telenor Pakistan that would enable the transfer of cross border remittances using BlockChain technology in near real time. This would bring convenience and efficiency for both remitters and their beneficiaries. For this, I would like to congratulate ANT Financial, Telenor Microfinance Bank and other key stakeholders such as Standard Chartered Bank for being the pioneers in the adoption of new technologies for providing a payment solution, which many other market players have only been thinking of. This puts Pakistan on the map of few countries in the world that have launched International Remittance using Block Chain Technology.