The National Institute of Banking and Finance (NIBAF), in collaboration with cybersecurity firm Risk Associates, recently hosted a two-day specialized training on PCI DSS v4.0 at its Karachi campus. Held on August 7 and 8, 2025, the program aimed to enhance the cybersecurity readiness of Pakistan’s financial sector by embedding international standards into local banking practices.
This initiative was led by two cybersecurity experts from Risk Associates: Mr. Kashif Hassan, Engagement Lead, and Mr. Zahidur Rahman, PCI Lead. With extensive experience in securing payment systems, both trainers provided deep insights into the latest version of the Payment Card Industry Data Security Standard (PCI DSS), an internationally recognized framework that safeguards cardholder data and payment environments.
The training covered key aspects of PCI DSS v4.0, including enhanced payment security mechanisms, cardholder data protection requirements, compliance lifecycles, access control protocols, and network security best practices. Designed specifically for professionals within financial institutions, the sessions provided practical strategies to address evolving cybersecurity threats and maintain compliance with global benchmarks.
NIBAF, through this program, demonstrated its growing role in building cybersecurity capacity across Pakistan’s banking and financial services landscape. The initiative aligns with the State Bank of Pakistan’s broader vision to enhance operational resilience, data integrity, and consumer trust in digital financial systems.
Speaking about the significance of the training, Ms. Lubna Farooq Malik, Co-CEO of NIBAF, emphasized that this effort marks a critical milestone in the institute’s mission to strengthen the cybersecurity competencies of financial professionals. She noted that incorporating international standards like PCI DSS into professional development frameworks ensures that Pakistani institutions remain prepared for dynamic threat environments and maintain robust defenses against cyber incidents.
Dr. Aftab Rizvi, CEO of Risk Associates, echoed this sentiment, highlighting the importance of institutional collaboration in driving forward Pakistan’s cybersecurity posture. He described the training as a transformative step in aligning with the global compliance ecosystem and developing localized expertise capable of meeting the rigorous demands of PCI DSS v4.0.
Participants from various banks and financial organizations attended the sessions, gaining exposure to the latest regulatory requirements and implementation strategies for securing payment infrastructures. The training not only contributed to individual skill development but also supported institutional efforts to strengthen internal controls and ensure safer digital financial services.
As digital payments continue to rise and cyber threats become increasingly sophisticated, such initiatives are essential for reinforcing trust in Pakistan’s financial systems. NIBAF’s partnership with Risk Associates sets a precedent for future programs that blend regulatory focus with hands-on technical expertise.
By facilitating high-impact training programs rooted in global standards, both organizations are playing a pivotal role in equipping Pakistan’s financial ecosystem with the tools needed to meet current and future security demands.