KARACHI:

The State Bank of Pakistan (SBP) has invited applications for the first cohort under its Regulatory Sandbox (RSB) initiative, aimed at fostering innovation in the financial sector.

According to an official statement released on Monday, the central bank has outlined three key themes for this cohort: technology-enabled solutions for inward remittances, open banking, and remote onboarding of merchants. The sandbox will allow applicants to test their products and operational models in a controlled environment, enabling the SBP to refine its regulatory framework in response to emerging technologies, while ensuring financial stability and consumer protection.

The SBP has encouraged individuals and firms with innovative ideas in these areas to apply and contribute to Pakistan’s evolving fintech landscape and digital financial ecosystem. Applications will be accepted from August 25 to October 5, 2025.

To guide participants, the central bank has issued detailed Regulatory Sandbox Guidelines.