SBP launches fintech accelerator with Mojaloop Foundation

KARACHI (News Desk): The State Bank of Pakistan (SBP) has launched the Collaboration Framework of its Innovation Hub, established under SBP Vision 2028, to provide a platform for structured engagement with the financial technology ecosystem.

The Framework supports capacity building, knowledge exchange and ecosystem development through non-exclusive, technology-neutral and provider-neutral partnerships.

The first initiative under the Framework is the Mojaloop Country Accelerator Program for Pakistan, launched in partnership with the Mojaloop Foundation. The inauguration ceremony was held at SBP Karachi on Tuesday, attended by SBP leadership, representatives of the Mojaloop Foundation and senior representatives of banks, financial institutions, technology firms, fintechs and academia.

Addressing the ceremony, Deputy Governor SBP Saleem Ullah described the accelerator as an important opportunity to strengthen Pakistan’s fintech ecosystem. He said the initiative will connect local talent with global expertise, enabling Pakistani institutions to turn innovative ideas into practical payment solutions. He expressed confidence that collaboration will promote innovation, strengthen local technical capabilities and expand access to digital financial services.

The Mojaloop Foundation, a non-profit organisation that maintains Mojaloop open-source payment software, is supporting the accelerator through programme design and technical training. The 16-week programme runs from November 2026 to February 2027 and combines self-paced learning with expert-led sessions.

Designed for local system implementers, digital financial service providers and payment-hub operators, the programme aims to develop expertise in digital payment infrastructure and help institutions apply global best practices to Pakistan’s evolving payments landscape.