The Pakistan Cricket Board (PCB) has clarified its position on the recent warning from the State Bank of Pakistan (SBP) regarding the alledged promotion of betting websites and cryptocurrency during the ongoing Pakistan Super League (PSL) edition 8.
According to the PCB spokesperson, the cricket authority has already taken necessary actions as directed by the Exchange Policy Department of the central bank.
The spokesperson noted that PCB recently removed the cryptocurrency company, BFIC, from the Pakistan Super League (PSL) due to its association with virtual currencies.
“PCB is strongly opposed to promoting liquor, tobacco, betting, and gambling, and that each sponsor company that the PCB associates with signs a clause banning these four prohibited items.”
It has been reported that the cricket board conducted a review of all documents from Karachi Kings and investigated the franchise’s sponsors, 1XBAT.
The spokesperson clarified that after a thorough investigation, they came to the conclusion that 1XBAT is not a gambling website, and there is no known link between 1XBAT and 1XBET.
“1XBAT has been partnered with PTV even before PSL. If 1XBAT was involved in any dubious activities, PEMRA would have barred PTV from the deal,” the official added.
Earlier this week, the State Bank requested the cricket board to devise a code of ethics for its franchises to abide by the laws of the land while selecting international sponsors.
In a letter issued by SBP, it was pointed out that PCB engaged Best Fintech Investment Coin (BFIC) as the “Official Technology Partner” of Pakistan Super League Season 8.