KARACHI: In a bid to fast-track Pakistan’s digital financial revolution, the State Bank of Pakistan (SBP) has invited applications for the first cohort of its Regulatory Sandbox — an initiative under Vision 2028 that will allow fintechs and financial institutions to test groundbreaking ideas in a controlled environment.
The central bank said the inaugural phase of the sandbox will focus on three priority themes: technology-enabled solutions for inward remittances, open banking, and remote on-boarding of merchants. These areas, SBP noted, are critical to expanding financial inclusion, boosting efficiency, and aligning the sector with global digital trends.
By enabling innovators to trial their products and operational models in a monitored setting, the sandbox is expected to strike a balance between promoting innovation and ensuring consumer protection and financial stability. SBP said the insights gained will also help refine regulatory frameworks in line with evolving technologies.
Calling on fintech startups, technology firms and financial institutions to seize the opportunity, SBP emphasised that the initiative would not only support the development of Pakistan’s fintech ecosystem, but also accelerate the country’s transition toward a more dynamic digital economy.
Applications for the first cohort will be accepted from August 25 to October 5, 2025, through a dedicated email address. To guide prospective participants, SBP has published detailed Regulatory Sandbox Guidelines, available on its website.
Copyright Business Recorder, 2025
