State Bank of Pakistan opens its second regulatory sandbox cohort for AI, payments and remittances; applications close 30 November 2026

State Bank of Pakistan opens its second regulatory sandbox cohort for AI, payments and remittances; applications close 30 November 2026

3 October 2026 — The State Bank of Pakistan (SBP) has launched the second cohort of its Regulatory Sandbox, inviting individuals and firms to test new financial products under its supervision, according to a statement reported by Profit and TechJuice on 3 October 2026. Applications are open until 30 November 2026.

Not yet independently verified. Two Pakistani outlets report the State Bank's statement; the State Bank's own website refused our requests on 4 October 2026, so we have not read its notice or the application form. Check the eligibility rules and submission route on the State Bank's site before applying. We will update this when it can be confirmed, and remove this note.

What the sandbox covers

The State Bank says the second cohort will consider proposals in four themes only:

• artificial intelligence in financial services;
• innovations in payments;
• technology-enabled inward remittances;
• an open category for next-generation financial services.

Proposals outside these themes will not be considered. Successful applicants can test their solutions in a controlled environment, while the State Bank uses the cohort to assess emerging technologies and refine its rules. The sandbox forms part of the State Bank's Vision 2028 programme for digital financial services. The first cohort, which began in 2025, has finished.

Who should apply

Pakistani fintechs and software companies building payment, remittance or AI products for banks and other regulated institutions; banks and microfinance banks with innovation projects that need regulatory room to test; and foreign firms with a Pakistani partner that want to bring a remittance or payment product to the market. Inward remittances are a large and policy-sensitive flow for Pakistan, so the dedicated remittance theme is notable.

What to do

1. Read the State Bank's sandbox guidelines and the cohort announcement on its website, which set eligibility, the testing period and the documents required.
2. Check that your proposal fits one of the four themes exactly.
3. Prepare a testing plan with consumer safeguards, data protection and exit arrangements, since sandbox regulators look for these first.
4. Apply before 30 November 2026.
5. Vendors selling to Pakistani banks: ask your customers whether they plan to enter the cohort, since sandbox projects often lead to procurement.

Why it matters

Regulatory sandboxes give young financial-technology companies a faster route to supervised testing than full licensing. A theme dedicated to AI in financial services also signals that the State Bank wants to see how AI is being used in credit, fraud and customer service before it writes rules for it.

Sources

• Profit (Pakistan Today): SBP launches second regulatory sandbox cohort for AI, payments innovations — 3 October 2026
• TechJuice: SBP opens regulatory sandbox for AI, payments and remittances — 3 October 2026