State Bank of Pakistan (SBP) Governor Jameel Ahmad has warned that cyber threats are on the rise amid shifting geopolitical conditions, with hackers becoming increasingly organised and sophisticated.
Speaking at a Cyber Drills Award ceremony organised by the Pakistan Banks’ Association (PBA), Ahmad said no single institution could tackle cyber risks alone, stressing the importance of close coordination between regulators and banks.
“Hacking threats have intensified due to the current geopolitical environment. Regulators and banks must work together to effectively counter these risks,” he said.
The governor highlighted that as Pakistani banks actively pursue digital transformation, cybersecurity preparedness becomes even more critical. He underscored the need for regular cybersecurity drills to counter future threats and ensure resilience in the financial system.
Ahmad added that the SBP was aligning its cybersecurity framework with international standards and had established a dedicated cybersecurity department. He emphasised that strong cyber defences are essential for maintaining financial stability.
