The State Bank of Pakistan (SBP) has published the shortlist of successful applicants selected to test digital financial services solutions in the first cohort of its Regulatory Sandbox, launched under guidelines issued in May 2025. The cohort covers three themes announced in August 2025: technology-enabled solutions for inward remittances, open banking, and remote onboarding of merchants. Shortlisted participants are Neem Exponential Financial Services Private Ltd, Digi Khata (SMC-Private) Limited, and Swich Retail Private Limited (open banking), The Bank of Punjab (remote onboarding of merchants), Barq Fintech (Pvt) Ltd (inward remittances), and a joint application by Taptap Send UK Limited and United Bank Limited (inward remittances). SBP has also formed a high-level Steering Committee to oversee the process. The selected participants will test their proposed solutions in a controlled live environment for up to six months, subject to conditions specified at the time of approval.
State Bank of Pakistan 2026-01-06
State Bank of Pakistan shortlists six participants for first Regulatory Sandbox cohort
The State Bank of Pakistan announced the shortlist for its Regulatory Sandbox's first cohort, focusing on digital financial services like inward remittances, open banking, and remote merchant onboarding. Participants, including Neem Exponential Financial Services and The Bank of Punjab, will test solutions in a controlled environment for up to six months under a high-level Steering Committee's oversight.