Business Desk 
Jun 22, 2025
To support Pakistan's financial institutions respond to online threats, the National Institute of Banking and Finance (NIBAF Pakistan) has partnered with Risk Associates, which is a cybersecurity and risk advisory firm.
The two organisations signed a Memorandum of Understanding (MoU) in a ceremony in Karachi yesterday. The agreement was signed by NIBAF-Pakistan Co-CEO Ms Lubna Farooq Malik, and CEO of Risk Associates Dr Aftab Rizvi.
Under the MoU both organisations will work together to offer training sessions, advisory inputs and skill development programmes on the theme of cyber risks, digital forensics, governance and international compliance standards.
Ms Malik stated the financial sector is currently undergoing a rapid digital shift and needs to stay ahead in protecting itself against cyber criminals.
She remarked the aim of this collaborative agreement is to benefit professionals and, specifically, bank staff, to upgrade skills on the current cyber threats.
Dr Rizvi pointed out that in an ever-accelerating world where digital threats are changing, protection has to be more than basic defences.
He highlighted the need for smarter solutions, such as AI-based threat modelling, automated governance systems, and machine learning for risk detection.
The training programmes will cover key areas such as cyber threat intelligence, information security governance, PCI compliance, and how banks can safely embrace digital change.
Furthermore, these modules will be tailored to the needs of the financial industry and aim to create a workforce that is alert, prepared, and tech-savvy.
