Islamabad : A high-level virtual session chaired by the Federal Finance Minister held a detailed review of the increasing cybersecurity risks confronting Pakistan’s financial sector, with emphasis placed on strengthening protections for banking systems and digital payment networks.
During the meeting, officials warned that cyberattacks driven by advanced artificial intelligence tools are becoming a serious and evolving threat to the country’s financial infrastructure.
The Finance Minister noted that malicious actors are now using sophisticated technologies to infiltrate digital banking platforms, underscoring the need to modernize cybersecurity frameworks in line with global best practices.
He directed the State Bank of Pakistan and the Pakistan Banks Association to immediately conduct a comprehensive audit of security systems across all financial institutions and to address weaknesses in outdated and legacy technologies.
The relevant authorities were also instructed to formulate coordinated short-term, medium-term, and long-term plans to effectively counter emerging cyber threats.
Officials pointed to recent cyber incidents reported in countries such as Japan and India, stating that Pakistan must draw lessons from these cases and reinforce its own digital defenses against similar risks.
The meeting further highlighted that the protection of financial infrastructure is closely tied to economic stability and long-term growth. Participants agreed on the need to enhance coordination and establish robust mechanisms for swift sharing of cyber threat intelligence between regulators and financial institutions.
The Finance Minister reaffirmed Pakistan’s commitment to engaging actively in global cybersecurity forums to benefit from international expertise and technological advancements.
The session concluded with a collective resolve to implement timely and effective measures aimed at maintaining public confidence in the country’s banking and digital financial systems.
