News & Events
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Pakistan enacts Virtual Assets Act 2026, sets crypto rules
Pakistan has passed the Virtual Assets Act 2026, with the Senate approving it on February 27, the National Assembly on March 3, and President Asif Ali Zardari signing it into immediate effect. This creates the Pakistan Virtual Assets Regulatory Authority (PVARA) with full power to license, regulate, and supervise exchanges, custodians, brokers, and token issuers nationwide, enforcing compliance and market conduct standards.
Binance and HTX received No Objection Certificates to begin AML registration (local subsidiaries needed for full licenses); unlicensed activity risks 5 years in jail or Rs. 50M fines, plus bans on manipulation/insider trading and FATF-aligned AML/CTF rules.
It includes a Shariah Advisory Committee for Islamic compliance. The government is also pursuing a Bitcoin reserve, allocating 2,000 MW surplus power for mining/AI data centers, and inked an MOU with Trump-linked World Liberty Financial for stablecoin cross-border payments.
Read the original article here: https://blockonomi.com/pakistan-enacts-virtual-assets-act-2026-sets-crypto-rules/
Kenya, Rwanda move toward single licence for cross-border fintech expansion
Kenya and Rwanda are developing a shared regulatory framework that would allow fintech firms to operate in both countries under a single licence, potentially removing one of the biggest obstacles to regional expansion for African digital payments companies.
Under the proposed system, regulators in Nairobi and Kigali would recognise each other’s approvals, while retaining joint oversight and cooperating on supervision. At present, startups must secure separate licences in each country, a duplication that pushes up compliance costs and slows the rollout of cross‑border payment services.
By moving towards mutual recognition, the two central banks hope to support the responsible growth of fintechs and deepen regulatory collaboration. If adopted, the framework could speed up the expansion of East Africa’s digital payments market by making it easier for companies to scale across borders.
Read the original article here: https://businessday.ng/technology/article/kenya-rwanda-move-toward-single-licence-for-cross-border-fintech-expansion/#google_vignette
Afriland First Bank, Visa sign growth agreement to expand digital payments in Cameroon
Afriland First Bank and Visa have signed a three-year strategic deal to speed up digital payments and expand financial inclusion across Cameroon. This agreement is Visa’s first standalone partnership with a local Cameroonian bank.
The collaboration, called a “Growth Agreement,” aims to modernise payment systems, make banking more accessible, and reduce the country’s heavy reliance on cash transactions. Only about 20 per cent of Cameroonians currently use formal banking services, though the rate rises to around 45 per cent when mobile money and microfinance are included.
Read the full article here: https://www.businessincameroon.com/finance/1203-15882-afriland-first-bank-visa-sign-growth-agreement-to-expand-digital-payments-in-cameroon
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Fireside chat with Dr Indrajit Coomaraswamy: Lessons to be learnt from Sri Lanka’s recent economic crisis
Join us for an enlightening fireside chat with Dr. Indrajit Coomaraswamy on Sri Lanka’s Economic Road to Recovery in collaboration with RCS Sri Lanka. Dr. Coomaraswamy will provide crucial insights into Sri Lanka’s current economic standing and potential paths to recovery, drawing on his extensive experience as a former Governor of the Central Bank of Sri Lanka.
Empowering Travel for All: A Fireside Chat with Snowball Community Founder Simon Sansome | Webinar Recording
The webinar was a fireside chat with Simon Sansome, founder of Snowball Community, a global disability app that aims to make travel more inclusive.
The Ghana Story | Webinar Recording
Delve into the captivating world of Ghana, a vibrant nation at the heart of West Africa that proffers a myriad of opportunities for investors, businesses and partners.
The Commonwealth: Trade and Unity
The modern Commonwealth is an association of nations which’s shared values unite 2.5 billion people in 54 countries. Through its branches all over the world, the Royal Commonwealth Society tries to harness this soft power.
In conversation with Dr Muhammad Tahir Mansoori
Dr Mansoori is a well-known and highly respected scholar within the community of Islamic scholars in Pakistan. He is currently serving as a Resident Shari’ah Board member for the Pakistani commercial and retail bank, Askari Bank Ltd., and also as a Shari’ah Advisory...
Why do we need a Commonwealth Chamber of Commerce in 2021?
The world is reeling from the impact of Covid-19. An estimated 4.6 million people have died. In 2020, Commonwealth countries suffered a loss of US$1.15 trillion and 84% fell into recession. Trade and shipping patterns face ongoing disruptions and uncertainties...