Pakistan’s banking sector has concluded its first-ever industry-wide cyber drill as a joint initiative of Pakistan Banks Association and State Bank of Pakistan, marking a major step in strengthening cybersecurity preparedness across the country’s financial system. The week-long exercise was held from January 12 to 19, 2026 in Karachi and Lahore, with a closing ceremony in Karachi attended by SBP Governor Jameel Ahmad as Chief Guest and Chairman PBA Zafar Masud as host on behalf of the industry. Their presence, along with senior leadership from the banking sector, SBP and partner organisations, reflected a collective commitment to enhancing resilience and coordination in the face of growing cyber risks, as Pakistan’s financial institutions continue to expand digital services and alternative delivery channels nationwide.
Speaking on the occasion, SBP Governor Jameel Ahmad remarked, “Cyber resilience cannot be achieved in isolation. It requires collective preparedness, transparent information sharing, and trust between regulators and regulated entities. In today’s environment, cyber resilience is measured not by whether cyber-attacks occur, but by how effectively we respond to them. As Pakistan’s banking sector continues its digital transformation, maintaining public trust is paramount. Initiatives such as these cybersecurity drills send a strong and reassuring signal — to customers, markets, and international partners — that Pakistan’s financial system is proactive, prepared and aligned with global standards,” he added. “This initiative is undoubtedly an important milestone — one that reflects the growing maturity, foresight and collective resolve of our financial system to address significant emerging risks, such as cyber risks,” Ahmad said. His remarks came as Pakistan’s financial system faces increasingly complex cyber threats driven by rapid technology adoption, greater interconnectivity and a shortage of skilled cybersecurity professionals in the domestic market, factors that continue to challenge institutions in safeguarding critical infrastructure and customer trust.
In his welcoming remarks, Chairperson of PBA Zafar Masud stated that cyber resilience is no longer a choice; it is a strategic imperative for the financial sector. “The PBA-SBP industry-wide cyber drill represents a significant step toward strengthening collective preparedness, improving coordination, and building institutional muscle memory to respond effectively to evolving cyber threats. The PBA remains committed to driving initiatives that enhance the security and resilience of Pakistan’s banking sector and reinforce public trust in the financial system.” The cyber drill brought together 34 financial institutions, with active participation through an industry-provided simulation lab, engaging both technical teams and senior management. Conducted through parallel management and technical tracks, the exercise required participating institutions to respond to realistic cyber crisis scenarios, including ransomware attacks and disruptions to key alternative digital channels, requiring cross-functional coordination, effective problem-solving and timely decision-making under pressure across the sector.
The purpose of the hands-on exercise was to assess and strengthen the incident response, coordination and crisis management capabilities of financial institutions amid an evolving cyber threat landscape. The event also recognised participating institutions and acknowledged the efforts of the SBP-PBA Cyber Drill Committee in the successful planning and execution of the cyber drill. Addressing the ceremony recognising institutions and individuals for completing Pakistan’s first-ever industry-wide cybersecurity drills for the banking sector, SBP Governor Jameel Ahmad further said, “As Pakistan’s banking sector continues its digital transformation, maintaining public trust is paramount.” He also stated, “Initiatives such as these cybersecurity drills send a strong and reassuring signal — to customers, markets, and international partners — that Pakistan’s financial system is proactive, prepared and aligned with global standards.” The successful completion of this first-ever industry-wide cyber drill reflects effective collaboration among Pakistan Banks Association, SBP and the financial sector, reinforcing the industry’s collective responsibility to remain proactive, adaptive and resilient as cyber risk increasingly emerges as a systemic challenge to financial stability, public confidence and economic growth.
Follow the SPIN IDG WhatsApp Channel for updates across the Smart Pakistan Insights Network covering all of Pakistan’s technology ecosystem.
