In a first, Meezan Bank, Pakistan’s premier Islamic bank, has become the first bank in the country to host a Mastercard-led cyber security workshop. This significant advancement in cyber security preparedness for Pakistan’s banking sector marks the launch of Mastercard’s new cyber security service in Pakistan.
The workshop, run by Mastercard Advisors, enabled Meezan Bank’s management and technical leaders to practice and rehearse responses to complex cyber attack scenarios. Mastercard’s custom-built cyber security exercise drew positive feedback from Mr. Irfan Siddiqui, Founding President & CEO of Meezan Bank.
Arslan Khan, Country Manager, Pakistan, Mastercard, emphasized the importance of preparedness and collaboration in mitigating cyber risks.
“As the digital economy grows, it is important to enhance and optimize measures on cyber-security. We are delighted to bring our global expertise to the Pakistani market with this groundbreaking initiative in partnership with Meezan Bank.”
Syed Fahd Azam, Chief Information Security Officer, Meezan Bank, highlighted the exercise’s value in enhancing crisis response capabilities.
“At Meezan Bank, we are committed to safeguarding our customers’ financial assets and data from cyber threats. The crisis simulation exercise conducted by Mastercard has been invaluable in strengthening our reputation as a secure banking partner.”
The workshop comes as cybercrime is predicted to cost the world $9.5 trillion this year, with Pakistan being one of the most frequently targeted countries.
The Middle East and Africa region is a highly targeted area, with cybercriminals using malicious techniques such as malware, ransomware, and phishing to target organizations in the public, technology, and financial services sectors.
