The State Bank of Pakistan (SBP) has launched a new ‘Cyber Shield’ strategy to fortify the nation’s financial system against growing cyber threats. Announced on February 17, 2026, the initiative is a key part of the central bank’s Vision 2028 agenda, which aims to strengthen digital resilience and protect the banking ecosystem from rising online risks. The plan comes amid rapid growth in online payments and digital financial services, which have increased exposure to cybercrime both domestically and internationally.
The SBP’s Cyber Shield strategy sets out a clear roadmap for banks and other financial institutions to prevent, respond to, and recover from cyber incidents. It also emphasises collaboration and information sharing across the sector, the adoption of international best practices, and continuous improvement of cyber defences to match evolving cyber risks. According to the central bank, these measures will help safeguard customers, maintain trust in digital finance systems, and support the ongoing adoption of innovative financial technologies.
In a statement, SBP officials highlighted that cybersecurity threats are becoming more sophisticated as digital financial services expand. The central bank said it expects all regulated entities to align their internal cybersecurity programmes with the Cyber Shield strategy. The phased implementation will continue through 2030, giving financial institutions time to enhance systems and controls, strengthen governance and accountability around cyber risk, and ensure compliance with the new framework.
SBP’s focus on cybersecurity comes at a time when the adoption of digital payments and internet banking is surging. According to industry data, the number of online transactions and fintech platforms in Pakistan has increased sharply over the past few years, driven by broader financial inclusion efforts and the convenience of mobile and internet banking. Cyber experts say this growth has expanded the surface area for potential cyberattacks, making resilience a top priority for regulators and banks alike.
The Cyber Shield strategy identifies five key priorities for the financial sector. These include strengthening the ability of institutions to withstand cyber incidents, improving governance frameworks related to cyber risk, fostering cooperation and information sharing, building skilled cyber talent, and regularly updating security practices to stay ahead of emerging threats. The SBP said it will monitor global developments closely and update the strategy as needed to address new risks.
Industry stakeholders have welcomed the initiative, saying the framework will help unify efforts across banks, fintech firms, and other financial service providers. Many also noted the importance of developing local cybersecurity expertise, as Pakistan currently faces a shortage of skilled professionals able to manage complex cyber challenges. Attracting and retaining talent is seen as crucial to implementing the new strategy effectively.
As digital finance continues to grow in Pakistan, the launch of the Cyber Shield marks a significant milestone in the country’s efforts to ensure the safety and stability of its financial ecosystem. By reinforcing defences and improving readiness, the strategy aims to protect both consumers and businesses in an increasingly interconnected digital world.
