Proposed framework aims to enable secure financial data sharing, promote digital payments and improve access to financing for SMEs, with feedback invited by November 30.
Karachi, October 30, 2026: The State Bank of Pakistan (SBP) has released draft Open Banking Regulations for public consultation, aiming to promote innovation, strengthen competition and expand access to customer-centric digital financial services.
In a statement issued on Friday, the central bank said the proposed regulations would give customers greater control over their financial data through secure, consent-based sharing and enable business payments through authorised Third-Party Providers (TPPs).
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The draft framework is designed to support the digitisation of business-to-business (B2B) and consumer-to-business (C2B) payments while encouraging innovative financial services.
It is also expected to facilitate stronger credit assessments, improve access to financing for small and medium-sized enterprises (SMEs), and support the development of customised financial products.
According to the SBP, the proposed regulations are aligned with international best practices and incorporate lessons from the first cohort of its Regulatory Sandbox on Open Banking.
The framework includes safeguards covering data protection, privacy, cybersecurity, fraud prevention and consumer protection.
The central bank has invited feedback from financial institutions, fintech companies, technology providers, consumer groups, academia and the general public to help improve the proposed regulations.
Deadline for feedback
The SBP has set November 30, 2026, as the deadline for submitting comments.
Stakeholders can email their feedback to the SBP with the subject line “Feedback on Draft Open Banking Regulations”.
Alternatively, submissions can be sent by post to the Payment Systems Policy & Oversight Department, 4th Floor, SBP Building, I.I. Chundrigar Road, Karachi.
The initiative supports the SBP’s broader strategy to develop a more connected, inclusive and efficient digital financial ecosystem in Pakistan.
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