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Pakistan has taken a major step to boost cybersecurity in its financial and fintech sectors. The National Institute of Banking and Finance (NIBAF-Pakistan), in partnership with Risk Associates, organized a two-day capacity-building program on August 7–8, 2025. The initiative focused on the Payment Card Industry Data Security Standard (PCI DSS) and reflects the State Bank of Pakistan’s ongoing commitment to securing the country’s banking and payments ecosystem. The training brought together cybersecurity professionals, banking representatives, and fintech experts to enhance skills, strengthen payment security, and promote trust in digital transactions.
According to the State Bank of Pakistan (SBP), the program was designed to improve payment security architecture and safeguard cardholder data. It also covered compliance lifecycle management, a key area for financial institutions facing evolving cyber threats.
Risk Associates, a globally recognized certification body and PCI Qualified Security Assessor (QSA), delivered the sessions. The trainers provided technical expertise and actionable insights on PCI DSS v4.0. Their guidance aimed to help institutions adopt global standards and enhance operational resilience.
The initiative represents a long-term effort to strengthen cybersecurity capabilities within Pakistan’s financial system. It particularly supports the fast-growing fintech sector, enabling it to meet international compliance benchmarks. Furthermore, the program aligns with Pakistan’s ambition to produce skilled cybersecurity professionals for regional and global markets, including the Middle East and GCC financial hubs.
NIBAF-Pakistan Co-CEO, Ms. Lubna Malik, called the training a milestone for the country’s banking sector. She emphasized that embedding global standards like PCI DSS in training frameworks equips financial institutions to counter modern cyber risks effectively.
Risk Associates CEO, Dr. Aftab Rizvi, described the collaboration as a transformative step for Pakistan’s cybersecurity ecosystem. He noted that aligning with the SBP’s vision empowers local institutions to meet global security benchmarks while building domestic expertise.
As digital payment adoption accelerates, resilient frameworks like PCI DSS are crucial to safeguarding sensitive data. They also help foster user trust, which is vital for sustainable growth in digital finance.
Following the program’s success, NIBAF-Pakistan and Risk Associates plan to extend their partnership. Future sessions will cover advanced cybersecurity governance, ISO/IEC 27001 standards, and emerging threats shaping the global financial sector.
