Crypto in Pakistan is growing fast, but full adoption faces serious delays due to Sharia law. The Ministry of Finance recently emphasized that while digital assets are gaining popularity, religious and cultural values rooted in Islamic finance continue to dominate the discussion.
Islamic Finance Requirements Limit Adoption
The government clarified that any crypto solution must align with Islamic finance principles — including bans on interest (riba), excessive uncertainty (gharar), and speculation (maysir). Because of this, most cryptocurrencies are seen as non-compliant, making them unsuitable for the majority of Pakistan’s devout Muslim population.
Moreover, Bilal Bin Saqib, head of the Pakistan Cryptocurrency Council (PCC), stressed the importance of faith:
“We want to build a forward-thinking digital economy, but we must do so within the bounds of Sharia. It’s not optional — it’s essential to our people.”
Financial Institutions Face Legal and Religious Barriers
For example, BankIslami, one of the country’s leading Islamic banks, has tried to explore digital asset services. However, their efforts have been delayed. Why? Because no crypto product can be launched without approval from Islamic scholars, ensuring every offering is Sharia-compliant.
This lengthy vetting process makes innovation difficult, even though demand is rising.
Progress Toward Sharia-Compliant Crypto
Still, not all hope is lost. Projects such as Islamic Coin and Republic Crypto have launched a Sharia advisory partnership. Together, they plan to create and validate Islamic-compliant blockchain tools — bringing ethical finance into the crypto age.
In addition, discussions with regulators are ongoing. Therefore, Pakistan may see compliant digital asset products sooner than expected.
Outlook: Crypto in Pakistan Needs a Faith-Aligned Path
The future of crypto in Pakistan depends on more than just technology. It also requires a deep respect for religious law. If developers, regulators, and investors cooperate, then crypto can evolve within a framework that honors both innovation and Islamic values.
