NIBAF Pakistan conducted a specialized one day workshop titled “Crypto Compliant: Mastering VASP Onboarding” for the compliance team of Easypaisa Digital Bank in Karachi. The workshop was held on August 6, 2026, and was designed to provide compliance professionals with practical knowledge and regulatory insights related to the onboarding of Virtual Asset Service Providers (VASPs). The programme focused on the requirements and compliance considerations emerging from Pakistan’s evolving virtual assets regulatory framework and its relevance to digital financial institutions.
The specialized training was targeted specifically at compliance officers of Easypaisa Digital Bank, providing participants with an opportunity to examine the regulatory and risk considerations associated with VASP account onboarding. As virtual asset related financial activities develop within the country, financial institutions are required to understand the applicable regulatory expectations and assess the risks associated with businesses operating in the virtual assets sector. The workshop addressed these requirements through a focused programme covering regulatory compliance, customer due diligence and risk based onboarding practices.
The programme was facilitated by Shahid Iqbal, Subject Specialist and Head of Commercial Banking Trainings at NIBAF Pakistan. The session was structured around key regulatory and compliance requirements relevant to VASP onboarding, including the Virtual Assets Act, 2026, State Bank of Pakistan guidelines concerning VASP account opening, relevant Financial Action Task Force (FATF) standards and guidance, and licensing requirements under the Pakistan Virtual Assets Regulatory Authority (PVARA). These areas provided the foundation for discussions around how financial institutions can assess and manage relationships with virtual asset service providers.
A significant part of the workshop focused on the intersection between virtual assets and anti money laundering and countering the financing of terrorism (AML/CFT) compliance. Participants explored customer due diligence requirements and the importance of applying appropriate risk based measures when evaluating VASPs. The training also covered Enhanced Due Diligence (EDD), which can be particularly relevant when financial institutions assess customers and businesses associated with emerging financial technologies and virtual asset activities.
The workshop also addressed the FATF Travel Rule, an important compliance requirement associated with virtual asset transactions. Participants were provided with regulatory insights into the requirements and considerations surrounding Travel Rule compliance as part of broader VASP onboarding procedures. The discussion was aimed at helping compliance professionals understand how international standards and local regulatory expectations intersect when financial institutions establish and manage relationships with virtual asset businesses.
PVARA licensing requirements were another key area covered during the programme. As Pakistan develops its regulatory framework for virtual assets, understanding licensing and regulatory status is an important consideration for financial institutions dealing with VASPs. The workshop provided compliance officers with an opportunity to examine the relevant requirements and consider how licensing considerations can form part of the overall assessment process when onboarding virtual asset service providers.
The training further explored risk based onboarding, allowing participants to examine how financial institutions can assess emerging compliance risks before establishing relationships with VASPs. The approach involves considering relevant customer, business and transaction risks while applying appropriate due diligence measures. For compliance teams, understanding these factors is important as digital financial services expand into areas involving virtual assets and other emerging financial activities.
The workshop reflects the growing importance of specialised regulatory training for banking and financial sector professionals as the virtual assets landscape develops in Pakistan. Financial institutions are required to keep compliance teams informed about regulatory changes, international standards and emerging risks. Programmes focused on specialised areas such as VASP onboarding can provide professionals with the knowledge required to assess new types of financial relationships while maintaining appropriate compliance controls.
NIBAF Pakistan continues to conduct specialised learning programmes for banking and financial sector professionals, with a focus on contemporary and regulatory oriented subjects. The VASP onboarding workshop adds to its training activities addressing emerging areas of digital finance and financial sector regulation. By focusing on practical regulatory requirements, the programme provided Easypaisa Digital Bank’s compliance professionals with an opportunity to strengthen their understanding of VASP related compliance responsibilities.
The Karachi workshop ultimately brought together virtual asset regulation, AML/CFT requirements, customer due diligence, licensing considerations, Travel Rule compliance and risk based onboarding within a single specialised training programme. As Pakistan’s regulatory framework for virtual assets continues to develop, compliance professionals at financial institutions will need to remain familiar with applicable requirements and emerging risks. NIBAF Pakistan’s programme was designed to support that need by providing Easypaisa Digital Bank’s compliance team with focused regulatory knowledge relevant to VASP onboarding and the wider digital financial ecosystem.
Follow the PakBanker Whatsapp Channel for updates across Pakistan’s banking ecosystem.