SBP releases draft Open Banking Regulations for public consultation

The State Bank of Pakistan has put proposed Open Banking rules out for public comment, Mettis Global reported on October 31, 2026. The framework would let customers authorize third-party providers to access financial information securely and initiate business payments, while keeping data sharing subject to customer consent.

The central bank expects the approach to support digital payments between businesses and between consumers and businesses. Consent-based information could also assist lenders assessing borrowers, improve financing opportunities for small and medium enterprises, and underpin financial services designed for specific needs. The proposal includes provisions covering privacy, data security, fraud risks and customer safeguards, drawing on work from the SBP’s Open Banking Regulatory Sandbox. The bank is seeking submissions from businesses, technology firms, consumer representatives, researchers and the public before finalizing the rules.