The State Bank of Pakistan (SBP) has called on banks and fintech companies to accelerate the expansion of digital credit as the country moves toward a more digitally driven financial ecosystem. Speaking at the fourth Pakistan Fintech Forum in Karachi, SBP Deputy Governor Muhammad Ali Khan said the central bank’s focus extends beyond increasing digital access to building trust, maintaining regulatory accountability and ensuring that digital financial services contribute meaningfully to economic activity.
The Pakistan Fintech Forum, hosted by the Pakistan Fintech Network under the theme “Building the Financial Future: Scale, Trust & Inclusion,” brought together policymakers and representatives from the banking, fintech, payments, technology and investment sectors. Discussions covered digital banking, access to credit, digital payments, financial inclusion, regulation and digital infrastructure, with participants examining how technology and financial data can be used to expand access to financial services while maintaining consumer confidence.
SBP Deputy Governor Muhammad Ali Khan emphasised the importance of developing digital financial services within a trusted and accountable framework. Rather than focusing solely on adoption, the discussions highlighted the need for financial institutions and fintech companies to build systems capable of scaling responsibly. Greater regulatory clarity, resilient infrastructure and closer cooperation between banks and fintechs were identified as important factors in expanding credit access and delivering financial services to customers at scale.
The forum also brought together senior representatives from several institutions involved in Pakistan’s evolving digital financial ecosystem, including the State Bank of Pakistan, Securities and Exchange Commission of Pakistan, Pakistan Digital Authority, Pakistan Virtual Assets Regulatory Authority and Raast Payments Pakistan. The participation of regulators and industry stakeholders provided a platform to discuss the policy, infrastructure and technology requirements needed to support the next stage of digital finance in the country.
The push for faster digital credit comes as financial institutions increasingly use technology, digital platforms and financial data to serve customers who may have limited access to conventional lending. For banks and fintechs, expanding digital credit will require balancing speed and accessibility with responsible lending, consumer protection and regulatory compliance. The SBP’s latest message signals that the next phase of Pakistan’s fintech development will focus not only on increasing digital usage but also on creating a financial ecosystem capable of delivering credit and other services at greater scale while maintaining trust and accountability.
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