SBP Seeks Public Feedback on Draft Open Banking Regulations
The proposed framework would allow consent-based financial data sharing and business payment initiation through authorized third-party providers, with comments invited from stakeholders until November 30, 2026.
KARACHI, (APP - UrduPoint / Pakistan Point News - 30th Oct, 2026) The State Bank of Pakistan (SBP), Friday, released the draft Open Banking Regulations for public consultation, with the aim of fostering innovation, enhancing competition, and expanding access to efficient, customer-centric digital financial services in Pakistan.
The draft regulations, according to a SBP statement issued here, intend to empower customers with greater control over their financial data by enabling secure, consent-based data sharing and the initiation of business payments through authorized Third-Party Providers (TPPs).
The draft regulations are available on SBP’s website, and the central bank invited feedback from all stakeholders, including financial institutions, fintechs, technology providers, consumer groups, academia, and the general public, to help refine the proposed framework.
The regulations have been framed to facilitate the digitization of business-to-business (B2B) and consumer-to-business (C2B) payments, while enabling innovative uses of consent-based financial data sharing, including robust credit assessments, improved access to financing for small and medium enterprises (SMEs), and the development of tailored financial products and services.
The draft regulations are aligned with international best practices and informed by the outcomes of the recently concluded first cohort of SBP’s Regulatory Sandbox on Open Banking, it added. They also provide robust safeguards for data protection, privacy, cybersecurity, fraud prevention, and consumer protection.
SBP has fixed November 30, 2026 as the final date for receiving the feedback. Comments may be submitted via email to [EMAIL_REDACTED], with the subject line “Feedback on Draft Open Banking Regulations”, or by post to the Payment Systems Policy & Oversight Department, 4th Floor, SBP Building, I.I. Chundrigar Road, Karachi.