The State Bank of Pakistan (SBP) has launched a new Collaboration Framework under its Innovation Hub, introducing an initiative aimed at strengthening the country’s financial technology ecosystem and expanding digital payment capabilities. Established under SBP Vision 2028, the Innovation Hub provides a structured platform for engagement with fintech companies, financial institutions, technology providers and other stakeholders. The framework is designed to support capacity building, knowledge exchange and ecosystem development through non-exclusive, technology-neutral and provider-neutral partnerships.
The first initiative launched under the framework is the Mojaloop Country Accelerator Program for Pakistan, developed in partnership with the Mojaloop Foundation. The inauguration ceremony took place at SBP Karachi and was attended by senior officials of the central bank, representatives of the Mojaloop Foundation, and senior representatives from banks, financial institutions, technology companies, fintechs and academia. The program marks an effort to connect Pakistan’s financial technology sector with international expertise and practical learning opportunities in digital payment infrastructure.
Addressing the ceremony, SBP Deputy Governor Saleem Ullah described the accelerator as an important opportunity to strengthen Pakistan’s financial technology ecosystem. He said the initiative would connect local talent with global expertise, helping Pakistani institutions transform innovative ideas into practical payment solutions. He also expressed confidence that the collaboration would encourage innovation, strengthen domestic technical capabilities and contribute to broader access to digital financial services across the country.
The Mojaloop Foundation, a non-profit organization responsible for maintaining Mojaloop’s open-source payment software, is supporting the initiative through program design and technical training. The accelerator is structured as a 16-week program running from November 2026 to February 2027. It combines self-paced learning with expert-led sessions, allowing participants to develop technical knowledge while engaging with specialists familiar with digital payment systems and implementation requirements.
The program is specifically designed for local system implementers, digital financial service providers and payment-hub operators seeking to strengthen their understanding of modern payment infrastructure. Through the training, participants are expected to develop expertise relevant to building, implementing and operating digital payment systems. The initiative also aims to help local institutions understand how open-source payment technology can support interoperability and the development of accessible financial services.
A key component of the accelerator is the opportunity for participants to join the Mojaloop technical community. This connection is intended to support continued learning beyond the formal training period, enabling Pakistani professionals and institutions to exchange knowledge, access technical resources and engage with international practitioners. Participation in the global community may also help local institutions apply established technical practices to Pakistan’s evolving payments landscape.
The launch reflects SBP’s broader efforts to encourage responsible innovation and strengthen the foundations of digital financial services. By introducing a structured collaboration mechanism through its Innovation Hub, the central bank is seeking to create opportunities for knowledge sharing and technical development without limiting participation to a particular technology provider. The framework also provides a platform for financial institutions and technology firms to work together on solutions that respond to the needs of Pakistan’s financial sector.
The Mojaloop Country Accelerator Program is expected to contribute to the development of local expertise in digital payment infrastructure while supporting the expansion of Pakistan’s digital payments ecosystem. Through international collaboration, technical training and continued engagement with the fintech community, SBP aims to promote innovation, improve access to digital financial services and advance financial inclusion in support of inclusive economic growth.
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