The State Bank of Pakistan (SBP) has announced that it is accepting applications for the first cohort of its Regulatory Sandbox (RSB), an initiative introduced under SBP Vision 2028 to support innovation in the financial sector.

The first cohort will consider applications that address technology-enabled solutions for inward remittances, open banking, and remote onboarding of merchants.

The Regulatory Sandbox has been established to allow participants to test their products and operational models within a controlled environment.

SBP stated that this approach is intended to promote innovation while maintaining consumer protection and financial stability, and will also provide insights for refining the regulatory framework in response to new technologies.

“By launching the Regulatory Sandbox, we aim to nurture innovation in Pakistan’s financial ecosystem while ensuring that regulatory measures keep pace with global developments,”

SBP said.

Applications will be accepted from August 25 to October 5 2025 and must be submitted via email.

SBP has also issued Regulatory Sandbox Guidelines to provide further guidance to interested applicants.

Featured image credit: Edited by Fintech News Middle East, based on image by emaliikhokhar via Unsplash