Pakistan Banks’ Association (PBA) is an independent, non-profit organization established in 1960 to represent the banking sector of Pakistan. It is a representative body for all types of banks operating in the country and works to promote their interests by influencing decisions at the national level. PBA also provides its members with services such as training, research, networking and advocacy on issues related to banking practices. The association is made up of 42 members which include private commercial banks, foreign banks, microfinance institutions and development finance institutions.
The main objective of PBA is to safeguard the interests of its members while promoting sound banking practices within Pakistan. It does this through activities such as advocating reasonable policies towards financial inclusion; providing guidance on risk management; monitoring developments in international best practices; conducting relevant studies; organizing seminars and conferences; developing educational material for bankers and other stakeholders; representing member banks before regulatory authorities etc.
In terms of cryptocurrency adoption within the country’s banking system, PBA has issued certain guidelines that all member banks are required to follow when dealing with digital assets or digital currencies like Bitcoin or Ethereum. These guidelines provide direction on how transactions should be conducted including areas such as customer due diligence requirements and anti-money laundering measures among others. Furthermore, PBA has also initiated several pilot projects geared towards exploring opportunities in blockchain technology aimed at improving operational efficiency within Pakistani financial institutions..
