[Pakistan Develops CBDC Prototype and Considers Issuing Rupee-Backed Stablecoin] Zafar Masud, Chairman of the Pakistan Banks' Association (PBA), stated that the country is exploring the issuance of a stablecoin backed by the Pakistani Rupee, warning that delays in digital asset regulation could result in an economic development opportunity loss of up to $25 billion. Additionally, Faisal Mazhar, Deputy Director of the Payment Systems Department at the State Bank of Pakistan, revealed that a central bank digital currency (CBDC) prototype is being developed with support from the World Bank and the International Monetary Fund (IMF), with plans for pilot testing before full-scale implementation.