KARACHI: The State Bank of Pakistan (SBP) has launched “Cyber Shield”, a comprehensive cyber resilience strategy aimed at strengthening the country’s financial sector against rising cyber threats and aligning protections with global best practices.
Read More: SBP governor flags rising cyber risks to banking sector
Announced under the central bank’s Vision 2028 agenda, the initiative sets a phased roadmap to be implemented through 2030. The SBP said all regulated financial institutions will be required to align their internal cybersecurity programmes with the strategy to ensure compliance and resilience.
#SBP has launched ‘Cyber Shield – the Cyber Resilience Strategy for Regulated Entities’ to better protect banks and financial institutions from cyber threats, ensuring that people and businesses can continue to access financial services safely.https://t.co/5uLydHJ04V pic.twitter.com/pj4JW3OciD
— SBP (@StateBank_Pak) February 16, 2026
“With rapid digitisation and strong growth in online payments, cyber risks to the banking ecosystem are increasing,” the SBP said, noting that Cyber Shield is designed to help institutions prevent incidents, respond swiftly to attacks and recover effectively. The central bank emphasised that safeguarding digital financial services is critical to maintaining public trust and supporting economic stability.
Bankers said cybercrime incidents have risen alongside expanding digital banking, though the overall situation remains manageable. They stressed the need for faster implementation of safeguards and stronger institutional capacity. A shortage of skilled cybersecurity professionals was also highlighted, with many Pakistani experts opting for higher-paying jobs abroad due to limited domestic incentives.
The SBP outlined five key priorities under Cyber Shield: enhancing banks’ ability to withstand cyber incidents, strengthening governance and accountability, improving sector-wide cooperation and information sharing, developing skilled cyber talent, and continuously updating security practices to address evolving threats. The regulator said it will monitor global and domestic cyber developments and revise the strategy as risks change.
Read More: Unjust application of laws create distrust, polarisation in society
By reinforcing cyber resilience across financial institutions, the SBP aims to protect customers, enable secure digital innovation and preserve financial stability. A survey by PricewaterhouseCoopers (PwC) Pakistan found about 90% of bankers view cybercrime as the industry’s biggest challenge, with fraud and terrorism financing also cited as major concerns.