To further strengthen regulatory oversight, the State Bank of Pakistan (SBP) has reorganized its three existing Banking Supervision Departments into two new units; Banking Supervision Department-1 (BSD-1) and Banking Supervision Department-2 (BSD-2).
A detailed list of regulated entities allocated to each department has been shared.
The central bank has also introduced a new “Cyber Risk Management Department (CRMD)” under its Banking Supervision Group.
This department will focus on on-site and off-site supervision of cyber security risks faced by regulated entities.
The Directors have already assumed charge of their respective departments for a smooth transition and continued focus on robust regulatory practices.
