State Bank of Pakistan launches draft Open Banking Regulations for public consultation

Regulations aim to boost digital services

The central bank intends to foster innovation and enhance competition within the local financial sector. These rules seek to expand access to efficient, customer-centric digital financial services across Pakistan.

Customers gain control over data sharing

The draft framework empowers individuals with greater control by enabling secure, consent-based data sharing. Authorized Third-Party Providers will be able to initiate business payments under this new system.

Feedback invited from all stakeholders

Financial institutions and fintech companies are among the groups invited to submit feedback. The general public and consumer groups can also provide input on the proposed framework.