The State Bank of Pakistan (SBP) has launched the second cohort of its Regulatory Sandbox, providing individuals and firms an opportunity to test innovative financial solutions in a controlled regulatory environment.
The initiative aims to support responsible innovation in Pakistan’s digital financial services sector while helping SBP refine regulations in response to emerging technologies. The central bank launched the Regulatory Sandbox in August 2025 under its Vision 2028 and concluded the first cohort in June 2026.
For the second cohort, SBP will consider applications covering four key themes: AI in Financial Services, Innovations in Payments, Technology-enabled Inward Remittances, and NextGen Financial Services under the open theme.
Interested individuals and firms can submit their applications until November 30, 2026. The application deadline has been confirmed as November 30, 2026, and proposals must be submitted to the designated SBP email address. Only solutions falling within the announced themes will be considered.
SBP has also provided an application form and step-by-step procedure in its Regulatory Sandbox guidelines. The initiative is intended to facilitate innovation while maintaining a focus on consumer protection and financial stability.
