Page 4 - CMA Journal (Jan-Feb 2026)

President's

Message

My Dear Fellow Members,
I am pleased to present the Jan-Feb 2026 issue of Chartered Management Accountant Journal. The theme, Digital Assets,
Blockchain and Tokenization, could not be more timely. What was once considered futuristic is now actively reshaping
Pakistan's financial landscape.
Just days ago, Parliament passed the Virtual Assets Act 2026, establishing the Pakistan Virtual Assets Regulatory Authority
(PVARA) as a fully empowered regulator. The Act introduces clear licensing requirements for exchanges and custodians,
alongside strong protections against illicit activity.
The momentum is remarkable. Pakistan consistently ranks among the world's top nations for cryptocurrency adoption.
This is not speculation; it is millions of people solving real-world financial problems. With PVARA's regulatory sandbox now
in place, we have a framework to channel this energy responsibly and productively.
Building on this momentum, recent initiatives with Binance are exploring the tokenization of 2 billion dollars in sovereign
bonds, treasury bills, and commodity reserves. Blockchain based remittances are being piloted to make transactions faster
and more affordable, and tokenized assets are starting to attract international investors. These innovations are no longer
distant dreams and are coming to life.
ICMA has been engaged from the start, developing a Four Pillar Framework for responsible crypto adoption and a
roadmap for a Central Bank Digital Currency. These recommendations were shared with the Pakistan Crypto Council to
support inclusive and forward-looking policy.
For management accountants, the implications are profound. How do we measure value when it is tokenized? How do we
assure stakeholders when smart contracts replace traditional transactions? Blockchain strengthens audit trails, and
tokenization opens doors to fractional investment. Our skills in valuation, risk assessment, and strategic guidance are more
critical than ever.
Our role as management accountants is evolving, not diminishing. We remain trusted advisors who make sense of
complexity, but we must broaden our skills to meet the demands of the digital era. We need to understand blockchain not
as technologists, but as finance professionals who turn innovation into business advantage.
Through ICMA Digital, we provide a clear pathway to becoming Certified Digital Professionals, addressing the World
Economic Forum's projection of 69 million new global roles in data analytics, cybersecurity, and digital transformation.
Growth in countries like ours is expected to be 50 percent higher than in developed economies.
Our approach is simple but powerful: develop job ready professionals. Rigorous learning combined with hands-on
experience ensures that over four years, students move from full-time study to meaningful internships, gaining genuine
competence, not just credentials.
ICMA and its National CPD Committee remain fully committed to supporting you through expanded CPD sessions and
hands-on workshops on blockchain, digital assets, and tokenization, empowering you to lead in this rapidly evolving
landscape. Together, we can turn these emerging technologies into engines of transparency, efficiency, and inclusive
growth, shaping a stronger and more prosperous Pakistan.

Azeem Hussain Siddiqui, FCMA
President, ICMA

2 ICMA’s Chartered Management Accountant, Jan-Feb 2026