ISLAMABAD: In line with its Vision 2028, SBP has issued guidelines for Regulatory Sandbox (RSB) under Section 3 of the Payment Systems and Electronic Fund Transfers (PS&EFT) Act, 2007.
The guidelines are intended to facilitate new and existing entities, including start-ups, to test their financial solutions under a controlled regulatory environment.
The Regulatory Sandbox will follow a convergence-based approach focused around innovative themes. The State Bank will soon invite applications for participation in its first cohort. The theme of the first cohort will be announced by the end of June after completing market engagements, which are already underway.
The Regulatory Sandbox will enable participants to test their products and associated operational models for innovative ideas and technologies. The sandbox will help SBP improve and upgrade the regulatory environment in line with emerging innovative technologies.
SBP welcomes and encourages all interested parties to use the RSB platform to test their innovative ideas and products and contribute to Pakistan’s emerging fintech landscape and digital financial ecosystem.
