KARACHI: The National Institute of Banking and Finance (NIBAF), in collaboration with Risk Associates, has concluded a two-day specialized training program on the Payment Card Industry Data Security Standard (PCI DSS) version 4.0, aimed at strengthening cybersecurity readiness across Pakistan’s financial sector. Held on August 7 and 8, 2025, at NIBAF’s Karachi campus, the program brought together banking professionals to deepen their expertise in payment security, cardholder data protection, and compliance with globally recognized security frameworks.
The training was led by cybersecurity experts from Risk Associates, including Mr. Kashif Hassan, Engagement Lead, and Mr. Zahidur Rahman, PCI Lead. Designed for both technical and compliance-focused professionals, the sessions provided an in-depth exploration of PCI DSS v4.0 requirements, its control objectives, and the compliance lifecycle, equipping participants with practical strategies to safeguard sensitive financial data.
Key topics included best practices for securing network infrastructure, implementing effective access controls, and managing threats in real time. The program also addressed the evolving landscape of payment fraud, highlighting the importance of proactive security measures and continuous monitoring to ensure that banking institutions remain resilient against sophisticated cyberattacks.
Speaking on the occasion, Ms. Lubna Farooq Malik, Co-CEO of NIBAF Pakistan, emphasized the strategic importance of embedding international standards into local banking training programs. She noted that PCI DSS serves as a cornerstone for protecting payment systems and that by integrating such standards into capacity-building efforts, Pakistan’s financial sector can stay ahead in a fast-changing threat environment.
Dr. Aftab Rizvi, CEO of Risk Associates, underscored the collaborative nature of the initiative, linking it to the State Bank of Pakistan’s vision for a secure and modern banking ecosystem. He stressed that aligning local expertise with global cybersecurity benchmarks is essential for building trust in Pakistan’s financial infrastructure, particularly as the adoption of digital banking channels accelerates.
Participants benefited from a mix of theoretical instruction and practical exercises, ensuring they could translate the principles of PCI DSS into actionable security policies within their organizations. The training also emphasized the compliance lifecycle, from initial risk assessment to continuous improvement, highlighting the critical role of governance, employee awareness, and incident response planning.
NIBAF highlighted that the program reflects its ongoing commitment to developing specialized skills among banking professionals, particularly in areas where technology and regulatory compliance intersect. As the financial services industry in Pakistan becomes increasingly digitized, the ability to manage cybersecurity risks in line with international standards is seen as vital to maintaining operational integrity and customer confidence.
The initiative marks another step toward fostering a security-conscious culture within the country’s banking and payments ecosystem. With threats becoming more sophisticated and regulatory expectations evolving, programs like this are expected to play a key role in preparing institutions to meet both current and future cybersecurity challenges.