Financial services in Pakistan are rapidly digitising: Governor of the State Bank

Karachi: Governor of the State Bank Jamil Ahmed has said that Pakistan’s financial services are rapidly moving towards digitalisation, and consumers now want more secure, convenient and modern banking facilities.

Addressing the Bank of the Future Forum, Jamil Ahmed said that modern technology, especially cloud computing and artificial intelligence, is reshaping the financial system. According to him, “Innovation in financial services has changed the customer experience; now mobile banking has become common.”

The governor said that 9.5 billion digital transactions were made across the country in the fiscal year 2025, of which 68 per cent were done only through mobile apps. He said that the private sector is rapidly adopting digital platforms like “Raast”.

He said that maintaining consumer confidence in the digital financial system is very important, which is why the State Bank is further strengthening the cybersecurity framework. “Banks should invest in new technologies so that no cyber fraud damages consumer confidence.”

He said that Pakistan’s digital financing services are on the path of innovation, and the role of banks and fintech institutions is key in this development.