On May 16, 2025, the Pakistan Software Houses Association (P@SHA) and the State Bank of Pakistan (SBP) convened a significant meeting at NASTP, Karachi, to discuss the Regulatory Sandbox framework designed for fintech companies. This initiative aims to foster innovation in Pakistan’s rapidly evolving digital financial sector while ensuring compliance with regulatory standards. The SBP sought P@SHA’s expert consultation to guide the development and implementation of this crucial framework.
The meeting included senior representatives from SBP such as Mr. Muhammad Faisal Mazhar, Senior Joint Director, along with members of the Digital Innovation & Settlement Department including Mr. Gulzar Khan, Joint Director of the Payment System Policy and Oversight Department, Ms. Dilshad Bano, Mr. Ali Hussnain Babar, Ms. Jawaria Rehman Qazi, and Mr. Abdullah Javed Mirza.
From P@SHA, the Secretary General Ali Hasani and CEC Members Salman Dar and Usman Akbar participated online. The in-person attendees featured prominent figures including Mr. Shahzad Shahid, former P@SHA Chairman, Mr. M. Azam Mughal, former P@SHA CEC Member, Dr. Naveed Iqbal, Member of the Policy & Government Relations Committee, and Ms. Filza Maniar, Director of HR & Finance.
Discussions during the meeting resulted in an agreement that SBP would share detailed information about the Regulatory Sandbox. This will be followed by a joint webinar organized by P@SHA and SBP specifically for P@SHA member companies. The upcoming webinar will focus on the opportunities the sandbox presents for Pakistan’s IT industry, explain how companies can participate, and include an interactive Q&A session to address stakeholders’ queries.
This collaboration marks a vital step in strengthening Pakistan’s fintech ecosystem, aiming to nurture a regulatory environment that supports innovation while safeguarding financial stability. Together, P@SHA and SBP are working to build a vibrant, forward-looking digital economy that empowers fintech startups and companies to contribute significantly to Pakistan’s digital future.
