SBP opens applications for second cohort of Regulatory Sandbox

October 4, 2026 (MLN): The State Bank of Pakistan (SBP) has opened applications for the second cohort of its Regulatory Sandbox, inviting individuals and firms to test innovative solutions in four theme areas, with submissions accepted until November 30, 2026.

The central bank said the sandbox allows applicants to trial their products in a controlled setting while helping it refine and upgrade the regulatory framework in step with emerging technologies, according to a press release issued by the bank.

The second cohort will consider proposals on AI in financial services, innovations in payments, technology-enabled inward remittances, and an open theme titled NextGen Financial Services.

SBP said only proposals that fall within the scope of these themes will be considered. Interested parties must send their applications by email to regulatory.sandbox@sbp.org.pk, using the application form and step-by-step procedure given in the Regulatory Sandbox Guidelines on the central bank's website. A brief overview of the themes is also available on the SBP website.

The sandbox was launched in August 2025 under SBP Vision 2028, and its first cohort concluded in June 2026.

The central bank said the second cohort continues its push to support responsible innovation in the digital financial services ecosystem while safeguarding consumer protection and financial stability.

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