The State Bank of Pakistan (SBP) has called for stronger collaboration between banks and fintech companies as Pakistan continues to develop its digital financial ecosystem. SBP Deputy Governor Muhammad Ali Khan said the central bank is working to build a trusted and accountable digital finance environment, with emphasis on expanding digital access while also strengthening regulation, trust and accountability. He said digital financial services need to translate growing technology adoption into meaningful economic activity and provide wider benefits across the financial sector.
Muhammad Ali Khan made the remarks while speaking as the chief guest at the fourth edition of the Pakistan Fintech Forum, hosted by the Pakistan Fintech Network. The forum brought together stakeholders from Pakistan’s financial and technology sectors to discuss the next phase of development for the country’s financial ecosystem. The event focused on the opportunities and challenges emerging as digital financial services continue to expand, with participants examining how financial institutions, technology companies and regulators can work together to support responsible growth.
The forum was held under the theme “Building the Financial Future: Scale, Trust & Inclusion” and provided a platform for discussion on several key areas of Pakistan’s digital finance sector. Discussions covered digital banking, access to credit, sustainable digital payments, financial inclusion, regulation, digital infrastructure and emerging technologies. The gathering also included senior representatives from the State Bank of Pakistan, Pakistan Digital Authority, Pakistan Virtual Assets Regulatory Authority, Raast Payments Pakistan and other leading organisations operating across the financial and technology industries.
The SBP Deputy Governor said the central bank’s focus extends beyond increasing digital access. According to Muhammad Ali Khan, building trust, strengthening regulation and accountability, and ensuring that digital financial services contribute to economic activity are central to the development of the financial ecosystem. His remarks highlighted the importance of creating an environment in which consumers and businesses can use digital financial services with greater confidence while financial institutions and technology companies operate within a clear and accountable regulatory structure.
Opening the forum, Syed Nadeem Hussain, Chairman of Pakistan Fintech Network, also highlighted the need to convert Pakistan’s growing digital adoption into a financial ecosystem capable of supporting sustainable and inclusive economic growth. He said the fintech sector has moved beyond the initial stage of adoption and that the priority is now to build an ecosystem that can expand responsibly, strengthen trust and extend financial inclusion. He pointed to regulatory clarity, resilient infrastructure and stronger cooperation between banks and fintech companies as important requirements for reaching customers at scale and improving access to credit.
Collaboration between banks and fintechs was a central theme of the discussions. Traditional financial institutions bring established customer networks, financial infrastructure and banking capabilities, while fintech companies can provide technology-driven solutions and new approaches to delivering financial services. Stronger cooperation between the two sides can support the development of services designed around changing customer requirements while also helping expand access to financial products for individuals and businesses that remain underserved by conventional channels.
The forum also examined the continued expansion of digital banking and the need for greater access to financing. Participants discussed the development of sustainable digital payment models and the role that technology can play in making financial services more accessible. Financial data and resilient digital infrastructure were also discussed as important components of a financial system capable of supporting wider participation while maintaining consumer trust and operational reliability.
Financial inclusion remained another important area of discussion, particularly as Pakistan’s digital financial sector continues to grow. Participants considered how digital services could broaden access to financial products and enable more people and businesses to participate in the formal financial system. At the same time, the discussions recognised the importance of maintaining appropriate regulatory safeguards and reliable infrastructure as digital financial services expand across the country.
The event brought together prominent industry and policy representatives, including Imtiaz Haider, Commissioner of the Securities and Exchange Commission of Pakistan; Dr Sohail Munir, Chairperson of the Pakistan Digital Authority; Bilal Bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority; and Ahson Saeed, Chief Executive Officer of Raast Payments Pakistan. Their participation reflected the broad range of institutions involved in Pakistan’s developing digital financial ecosystem, from regulators and public-sector organisations to payment platforms and private-sector financial technology companies.
The Pakistan Fintech Forum highlighted the growing need for coordination among regulators, banks, fintechs and technology organisations as digital finance becomes an increasingly important part of Pakistan’s financial sector. The discussions around scale, trust and inclusion indicate that future development will depend not only on expanding digital services but also on strengthening regulatory frameworks, infrastructure, access to credit and cooperation across the industry. The State Bank of Pakistan’s emphasis on trust, accountability and collaboration reinforces the need for a balanced approach as Pakistan’s digital financial ecosystem continues to develop.
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