Regulatory Sandbox – Second Cohort

The State Bank of Pakistan (SBP) is pleased to launch the second cohort of the Regulatory Sandbox, following the successful conclusion of its first cohort in June 2026. This initiative, aligned with SBP Vision 2028, enables applicants to test their innovative solutions in a controlled regulatory environment while helping SBP refine and upgrade the regulatory framework in line with emerging technologies. The Sandbox supports responsible innovation in the digital financial services ecosystem while ensuring consumer protection and financial stability.

For the second cohort, SBP will consider applications focused on the following themes: (i) AI in Financial Services, (ii) Innovations in Payments, (iii) Technology-enabled Inward Remittances, and (iv) Open Theme – NextGen Financial Services. Interested individuals and firms with innovative solutions in these areas are encouraged to apply; only proposals falling within the scope of these themes will be considered.

Applications will be accepted until November 30, 2026, via email to regulatory.sandbox@sbp.org.pk. The application form and step-by-step procedure are available in the Regulatory Sandbox Guidelines at: https://www.sbp.org.pk/assets/document/RegulatorySandboxGuidlines.pdf. A brief overview of the themes is available at: https://www.sbp.org.pk/assets/document/RSB_2_-_Themes_Brief.pdf. For any queries or feedback, please email regulatory.sandbox@sbp.org.pk.