The State Bank of Pakistan has released draft Open Banking Regulations for public consultation. The draft was released on October 30, and SBP is inviting feedback until November 30, 2026. The proposal is not a set of final rules.
What does the proposal cover?
SBP says the draft would allow secure, consent-based sharing of financial data and the initiation of business payments through authorised third-party providers. The bank says the proposed framework is intended to support business-to-business and consumer-to-business payments, credit assessments, financing for small and medium-sized enterprises, and tailored financial products.
Would customers have to share their account data?
SBP describes data sharing under the proposal as consent-based. Profit by Pakistan Today reported that account-holding institutions would be required to provide authorised providers with access through application programming interfaces, subject to customer consent. Profit also reported that customers would be able to monitor, change or withdraw consent through online dashboards.
Those detailed requirements are reported descriptions of the draft. The draft document could not be reviewed directly for this article, and the proposed rules may change before they are finalised.
What protections have been described?
SBP says the draft includes safeguards for data protection, privacy, cybersecurity, fraud prevention and consumer protection. Pakistan Era reported that the draft proposes a seven-business-day refund period for certain unauthorised payments, subject to exceptions. That provision also has not been checked against the draft text directly.
How can people comment?
SBP invited feedback from financial institutions, fintechs, technology providers, consumer groups, academia and the public by November 30, 2026. Its announcement describes a consultation draft; it does not give an implementation date for final rules.
