Pakistan’s banking sector has completed its first-ever industry-wide cyber drill, marking a major step toward strengthening cyber resilience across the financial system. The week-long exercise was jointly organised by the Pakistan Banks Association and the State Bank of Pakistan, and was held from January 12 to 19, 2026, in Karachi and Lahore, with the closing ceremony taking place in Karachi.
The closing ceremony was attended by SBP Governor Jameel Ahmad as the chief guest and PBA Chairman Zafar Masud as host, alongside senior leaders from banks, regulators and partner organisations. Their presence highlighted the shared commitment of regulators and the banking industry to safeguard the financial system against cyber threats.
Speaking at the event, the SBP governor said cyber resilience cannot be built in isolation and requires cooperation, information sharing and trust between regulators and financial institutions. He noted that in today’s digital environment, resilience is measured not by the absence of cyberattacks but by how effectively institutions respond to them. He added that as Pakistan’s banking sector becomes more digital, maintaining public trust is critical, and initiatives like industry-wide cyber drills send a strong signal that the country’s financial system is prepared and aligned with global standards.
PBA Chairman Zafar Masud said cyber resilience has become a strategic necessity for the financial sector. He described the drill as an important step toward improving collective preparedness, coordination and the ability of institutions to respond calmly and effectively to cyber incidents. He reaffirmed PBA’s commitment to supporting initiatives that strengthen security and reinforce public confidence in the banking system.
A total of 34 financial institutions took part in the exercise, using a dedicated simulation lab. Both technical teams and senior management were involved through parallel tracks that tested decision-making and operational responses. Participants were required to handle realistic cyber crisis scenarios, including ransomware attacks and disruptions to key digital banking channels. The drill focused on improving incident response, crisis management and coordination under pressure.
The event also recognised the efforts of participating institutions and the SBP-PBA Cyber Drill Committee for successfully planning and executing the exercise. Officials said the successful completion of the drill reflects strong collaboration between regulators and the banking industry and shows a growing readiness to address increasingly complex cyber risks facing Pakistan’s financial sector.
