SBP Launches Second Cohort of Regulatory Sandbox for Financial Innovation

The State Bank of Pakistan (SBP) has launched the second cohort of its Regulatory Sandbox to support innovative solutions in digital financial services.

The initiative will allow applicants to test new technologies and business solutions in a controlled environment. It will also help SBP refine and upgrade the regulatory framework as financial technologies evolve.

Four Areas Open for Applications

Under the second cohort, SBP will consider applications covering four key themes:

AI in Financial Services

Innovations in Payments

Technology-enabled Inward Remittances

Open Theme – NextGen Financial Services

Only proposals that fall within these themes will qualify for consideration.

Applications Open Until November 30

Individuals and firms with innovative solutions are encouraged to apply for participation.

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Applications will remain open until November 30, 2026. Applicants must submit their applications through email to the Regulatory Sandbox team.

The programme supports the objectives of SBP Vision 2028. The central bank said the initiative aims to encourage responsible innovation while maintaining consumer protection and financial stability.

Second Cohort Builds on First Programme

SBP launched its Regulatory Sandbox in August 2025. The first cohort concluded successfully in June 2026.

The second cohort continues the central bank’s efforts to develop a supportive environment for digital financial innovation. It also seeks to ensure that emerging technologies develop within an appropriate regulatory framework.

Application forms and the step-by-step participation procedure are available in SBP’s Regulatory Sandbox Guidelines. Applicants can also consult SBP’s separate document outlining the four themes.

For queries and feedback, interested parties can contact the Regulatory Sandbox team through the designated SBP email address.