Business Desk 
Jan 06, 2026
The State Bank of Pakistan (SBP) on Tuesday launched its Regulatory Sandbox to enhance innovation in digital financial services with the issuance of Guidelines in May 2025.
SBP has received strong interest from regulated financial institutions along with local and international fintech companies. The first cohort was announced in August 2025, inviting applications under the following themes:
- Technology enabled solutions for inward remittances
- Open banking
- Remote onboarding of merchants
To ensure transparency and effective oversight, SBP has formed a high-level steering committee to oversee the entire process. The list of shortlisted of successful applicants for testing their proposed solutions under the sandbox are below:
- Neem Exponential Financial Services Private Ltd Open Banking
- Digi Khata (SMC-Private) Limited Open Banking
- Swich Retail Private Limited Open Banking
- The Bank of Punjab Remote Onboarding of Merchants
- Barq Fintech (Pvt) Ltd Technology Enabled Solutions for Inward Remittances
- Taptap Send UK Limited & United Bank Limited Technology Enabled Solutions for Inward Remittances
It should be noted that the shortlisted applicants will test their proposed solution within a controlled live environment for up to six months, subject to conditions specified at the time of approval.
SBP believes that the Regulatory Sandbox initiative will promote an environment conducive to the development and introduction of practical, user-centric technological solutions in the financial sector.
