SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik has said in the modern global economy, transitioning to a cashless and paperless economy that has become essential for Pakistan to remain competitive. He stated this in a meeting with a women entrepreneurs’ delegation led by Hafsa Abdullah here Sunday. The SAARC-CCI former president argued that the shift towards digital transactions and electronic records is not merely a trend but a necessity driven by the rapid advancements in technology and the demands of global trade. “A cashless economy, where transactions are conducted electronically, offers numerous benefits: it reduces the reliance on physical currency, minimizing the risks associated with handling cash, such as theft and counterfeit money; and it promotes financial inclusion by making it easier for the unbanked population to access financial services through mobile banking and digital payment platforms.”