Monday, 26 th January 2026, Karachi: As a joint initiative of the Pakistan Banks Association (PBA) and the State Bank of Pakistan (SBP), Pakistan’s banking sector concluded its first-ever Industry-wide Cyber Drill, a week-long exercise held from 12 to 19 January 2026 in Karachi and Lahore, with a closing ceremony in Karachi.
Governor SBP, Mr Jameel Ahmad, who graced the occasion as Chief Guest, and Chairman PBA, Mr Zafar
Masud, who served as Host on behalf of the industry, attended the closing ceremony. Their participation, together with senior leadership from the banking industry, SBP, and partner organisations, underscored the collective commitment to strengthening the financial sector.
Speaking on the occasion, Governor SBP, Mr Jameel Ahmad, remarked, “Cyber resilience cannot be achieved in isolation. It requires collective preparedness, transparent information sharing, and trust between regulators and regulated entities. In today’s environment, cyber resilience is measured not by whether cyber-attacks occur, but by how effectively we respond to them. As Pakistan’s banking sector continues its digital transformation, maintaining public trust is paramount. Initiatives such as these cybersecurity drills send a strong and reassuring signal—to customers, markets, and international partners—that Pakistan’s financial system is proactive, prepared, and aligned with global standards. This initiative is undoubtedly an important milestone—one that reflects the growing maturity, foresight, and collective resolve of our financial system to address significant emerging risks, such as cyber risks.”
In his welcoming remarks, Chairman PBA Mr Zafar Masud, stated: “Cyber resilience is no longer a choice; it is a strategic imperative for the financial sector. The PBA-SBP industry-wide cyber drill represents a significant step toward strengthening collective preparedness, improving coordination, and building institutional muscle memory to respond effectively to evolving cyber threats. PBA remains committed to driving initiatives that enhance the security and resilience of Pakistan’s banking sector and reinforce public trust in the financial system.”
The well-coordinated cyber drill brought 34 financial institutions together, with active participation Conducted through parallel management and technical tracks, the exercise required participating institutions to respond to realistic cyber crisis scenarios, including ransomware attacks and disruptions to key alternative digital channels. This required cross-functional coordination, effective problem- solving, and timely decision-making under pressure. The purpose of this hands-on exercise was to assess and strengthen the incident response, coordination, and crisis management capabilities of financial institutions amid an evolving cyber threat landscape.
The event also recognised the participating institutions and acknowledged the dedicated efforts of the SBP-PBA Cyber Drill Committee in the successful planning and execution of the cyber drill.
The successful completion of this industry-wide cyber drill reflects the effective collaboration among PBA, SBP, and Pakistan’s financial sector, underscoring the industry's collective responsibility to remain proactive, adaptive, and resilient in the face of an increasingly complex cybersecurity landscape.
