Islamabad, Mar 8 2025: The State Bank of Pakistan (SBP) has announced a shift from web-based access to a Virtual Private Network (VPN)-based system for its regulatory portals.
A move aimed at enhancing security amid the growing expansion of digital financial operations. According to a circular issued by the central bank, this transition will officially take effect on May 30.
The SBP emphasized that this upgrade is part of its broader efforts to fortify cybersecurity measures as digital transactions and regulatory processes become increasingly sophisticated.
The central bank highlighted that it has fully digitized the process for receiving submissions from regulated entities (REs) and issuing regulatory decisions through its Regulatory Approval System (RAS).
This digital transformation ensures streamlined interactions between financial institutions and the SBP, improving efficiency and security.
In addition, the State Bank of Pakistan (SBP) has introduced a service desk system to manage complaints and technical issues related to SBP-hosted portals, including RAS.
This new platform aims to provide a more structured and efficient mechanism for addressing concerns from stakeholders.
To facilitate a seamless transition, the State Bank of Pakistan (SBP) has instructed all regulated entities to acquire the required Multi-Factor Authentication (MFA) accounts well before the implementation date.
The use of MFA will add an extra layer of security, ensuring that only authorized personnel can access the regulatory platforms.
The central bank has stressed the importance of timely compliance with the new security framework to prevent any disruptions in accessing the RAS and service desk portals.
Financial institutions and other stakeholders are advised to take proactive measures to align with these security enhancements and ensure continued access to regulatory services without interruption.
