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Fintech News ME
22-05-2025
- Business
- Fintech News ME
Pakistan Unveils Regulatory Sandbox Guidelines to Drive Fintech Innovation
The State Bank of Pakistan (SBP) has issued comprehensive Guidelines for the Regulatory Sandbox (RSB) under Section 3 of the Payment Systems and Electronic Fund Transfers (PS&EFT) Act, 2007. These guidelines are designed to provide a controlled regulatory environment for both new and existing entities, including startups, to test cutting-edge financial solutions. The RSB initiative will adopt a cohort-based approach, centered around specific innovative themes, allowing participants to trial their products and operational models in a real-world but supervised setting. The SBP is currently engaged in market consultations and is set to announce the theme(s) for its first RSB cohort by the end of June 2025. By launching this framework, SBP aims to foster a culture of responsible innovation and support the development of a vibrant digital financial ecosystem. The Regulatory Sandbox will serve as a critical tool in both validating fintech innovations and shaping the regulatory landscape to keep pace with rapid technological advancements. The SBP invites all interested stakeholders, particularly fintech startups, financial institutions, and technology providers, to participate in the upcoming cohort and take advantage of this unique platform to pilot innovative ideas that can redefine the future of finance in Pakistan.
Business Recorder
21-05-2025
- Business
- Business Recorder
Regulatory Sandbox: State Bank of Pakistan issues guidelines
KARACHI: In line with its Vision 2028, the State Bank of Pakistan (SBP) has issued the Guidelines for the Regulatory Sandbox (RSB) under Section 3 of the Payment Systems and Electronic Fund Transfers (PS&EFT) Act, 2007. The objective of these guidelines is to facilitate new and existing entities, including startups, to test their financial solutions under a controlled regulatory environment. The Regulatory Sandbox will follow a cohort-based approach centred around innovative themes. SBP will soon invite applications for participation in its first cohort. The theme(s) of the first cohort will be announced by end June after completing the market engagement, which is already underway. 'Regulatory Sandbox': SBP issues guidelines The Regulatory Sandbox will enable the participants to test their products and the associated operational models around innovative ideas and technologies. The Sandbox will also help SBP in refining and upgrading the regulatory environment in line with the evolving innovative technologies. SBP welcomes and encourages all the interested parties to use the RSB platform to test their innovative ideas and products and contribute to Pakistan's evolving Fintech landscape and digital financial ecosystem. Copyright Business Recorder, 2025
Business Recorder
21-05-2025
- Business
- Business Recorder
Regulatory Sandbox: SBP issues guidelines
KARACHI: In line with its Vision 2028, the State Bank of Pakistan (SBP) has issued the Guidelines for the Regulatory Sandbox (RSB) under Section 3 of the Payment Systems and Electronic Fund Transfers (PS&EFT) Act, 2007. The objective of these guidelines is to facilitate new and existing entities, including startups, to test their financial solutions under a controlled regulatory environment. The Regulatory Sandbox will follow a cohort-based approach centred around innovative themes. SBP will soon invite applications for participation in its first cohort. The theme(s) of the first cohort will be announced by end June after completing the market engagement, which is already underway. 'Regulatory Sandbox': SBP issues guidelines The Regulatory Sandbox will enable the participants to test their products and the associated operational models around innovative ideas and technologies. The Sandbox will also help SBP in refining and upgrading the regulatory environment in line with the evolving innovative technologies. SBP welcomes and encourages all the interested parties to use the RSB platform to test their innovative ideas and products and contribute to Pakistan's evolving Fintech landscape and digital financial ecosystem. Copyright Business Recorder, 2025
