Pakistan’s banking sector has reached a significant milestone with the successful conclusion of its first-ever industry-wide cyber drill, jointly organized by the Pakistan Banks Association (PBA) and the State Bank of Pakistan (SBP). The week-long exercise was held from January 12 to January 19, 2026, across Karachi and Lahore, with the closing ceremony hosted in Karachi.
The initiative marks a major step toward strengthening cybersecurity preparedness across the country’s financial system. With cyber threats growing in scale and sophistication, the drill aimed to enhance coordination, response mechanisms, and crisis management capabilities among financial institutions operating in Pakistan.
Governor State Bank of Pakistan, Mr. Jameel Ahmad, attended the closing ceremony as Chief Guest, while Chairman PBA, Mr. Zafar Masud, represented the banking industry as host. Their presence, along with senior leadership from SBP, PBA, and participating institutions, highlighted a shared commitment to safeguarding financial stability in an increasingly digital environment.
Addressing the audience, Governor SBP emphasized that cyber resilience cannot be achieved in isolation. He noted that effective preparedness depends on transparency, information sharing, and trust between regulators and regulated entities. He stressed that modern cybersecurity is not measured by the absence of attacks, but by the effectiveness of institutional response when incidents occur. As Pakistan’s banking sector continues its digital transformation, maintaining public trust remains a critical priority.
Chairman PBA Mr. Zafar Masud, in his remarks, stated that cyber resilience has become a strategic necessity rather than an optional safeguard. He described the joint cyber drill as a vital step in building collective readiness and institutional muscle memory to counter evolving cyber threats. He reaffirmed PBA’s commitment to initiatives that enhance security, resilience, and public confidence in the banking system.
The cyber drill brought together 34 financial institutions and featured active participation through a dedicated industry simulation lab. Both technical teams and senior management were involved, ensuring organization-wide engagement. The exercise was conducted through parallel management and technical tracks, requiring institutions to respond to realistic cyber crisis scenarios such as ransomware attacks and disruptions to alternative digital channels.
Participants were tested on cross-functional coordination, rapid decision-making, and effective communication under pressure. The primary objective was to assess and strengthen incident response frameworks while identifying areas for improvement in crisis handling and inter-institutional coordination.
The event also formally recognized participating institutions and acknowledged the efforts of the SBP-PBA Cyber Drill Committee for its role in planning and executing the exercise. The successful completion of the drill reflects strong collaboration between regulators and the banking industry.
Overall, the initiative underscores Pakistan’s growing focus on proactive risk management and alignment with global cybersecurity standards, reinforcing confidence among customers, markets, and international stakeholders.
