The State Bank of Pakistan has opened applications for the first cohort of its Regulatory Sandbox, setting out priority themes for testing innovative financial products and associated operating models in a controlled environment. The cohort will consider use cases covering technology-enabled solutions for inward remittances, open banking, and remote onboarding of merchants. The sandbox is positioned as a mechanism to support financial-sector innovation while maintaining consumer protection and financial stability, and to inform SBP refinements to the regulatory framework as new technologies emerge. Applications will be accepted from August 25, 2025 to October 05, 2025, and SBP has published Regulatory Sandbox Guidelines on its website to support prospective applicants.
State Bank of Pakistan 2025-08-25
State Bank of Pakistan invites applications for first regulatory sandbox cohort focused on remittances, open banking and remote merchant onboarding
The State Bank of Pakistan has launched applications for its first Regulatory Sandbox cohort, focusing on innovative financial products in areas such as inward remittances, open banking, and remote merchant onboarding. This initiative aims to foster financial-sector innovation while ensuring consumer protection and financial stability, and to guide future regulatory framework adjustments.