SBP invites applications for First Cohort of Regulatory Sandbox to foster Innovation

August 25, 2025: The State Bank of Pakistan (SBP) has officially opened applications for the first cohort of its Regulatory Sandbox (RSB), a strategic initiative aimed at promoting innovation in the country’s financial sector while ensuring consumer protection and financial stability.

In line with the SBP Vision 2028, the central bank has announced three key focus areas for this inaugural cohort:

1.      Technology-enabled solutions for inward remittances

2.      Open Banking

3.      Remote onboarding of merchants

The Regulatory Sandbox provides a controlled environment where individuals and firms can test innovative financial products, services, or business models with live customers under SBP’s supervision. The initiative is expected to help both innovators and regulators better understand emerging technologies and their impact on Pakistan’s evolving fintech landscape.

Interested applicants are encouraged to submit proposals that align with the above themes. Applications will be accepted from August 25 to October 5, 2025, and must be submitted via email to regulatory.sandbox@sbp.org.pk