Federal Minister for Finance and Revenue has chaired a virtual meeting with presidents and chief executive officers of commercial banks, along with their chief information security officers (CISOs), to enhance cybersecurity preparedness across Pakistan’s financial sector in light of emerging technological risks and evolving threat dynamics.

The finance minister appreciated the active engagement of financial institutions, regulators and technical experts, and underscored the importance of coordinated efforts to safeguard critical financial infrastructure. He emphasised that as Pakistan’s financial ecosystem continues to digitise, strengthening cyber resilience must remain a central policy priority.

A detailed presentation outlined the evolving cyber threat landscape, including the growing sophistication of AI?enabled cyber tools capable of identifying vulnerabilities, developing exploits and executing multi?stage attacks at unprecedented speed. The presentation highlighted potential exposure across digital banking channels, payment systems and core financial infrastructure, while emphasising the need for enhanced vigilance and preparedness.

The discussion also drew on international experiences, noting recent cyber risk trends in countries such as Japan and India, where financial ecosystems have faced increasing exposure to attacks targeting digital payment platforms and interconnected systems. Participants observed that these developments offer valuable lessons for strengthening Pakistan’s defensive capabilities and institutional readiness.

Participants were also briefed on evolving international policy responses to emerging AI?driven cyber risks. It was noted that finance ministries and central banks globally are increasingly treating such developments as high?priority systemic concerns, engaging through coordinated high?level platforms, including the IMF?World Bank Spring Meetings and bilateral consultations with major financial institutions. The discussion highlighted that Pakistan’s ongoing engagement on these issues aligns with global efforts to strengthen next?generation financial infrastructure, enhance cyber resilience and promote responsible innovation.

Participants deliberated on enhancing coordination between regulators, financial institutions and other stakeholders, while strengthening governance frameworks and aligning cybersecurity policies with evolving global standards. Emphasis was placed on improving threat intelligence sharing, addressing legacy system vulnerabilities and leveraging emerging technologies to strengthen detection and response mechanisms.

“The finance minister urged the State Bank of Pakistan and the Pakistan Banks” Association to undertake a comprehensive review of existing frameworks, identify key gaps, and assess all relevant aspects of cyber risk management and institutional preparedness. He further emphasised the need for close coordination among regulatory authorities, financial institutions and technical teams to develop well?considered, actionable recommendations to strengthen the cybersecurity posture of the banking sector.

Separately, the finance minister chaired a virtual meeting of a focus group established for the promotion of Real Estate Investment Trusts (REITs) and the development of the capital market. The meeting was attended by prominent business figures, including Arif Habib, Nadeem Riaz and Ali Jameel, along with key officials from both the public and private sectors.

The finance minister said that REITs provide a transparent and structured mechanism to shift real estate investment towards productive sectors of the economy, which not only promotes documentation but also strengthens the formal inclusion of construction and development sectors. Detailed discussions were held on improving the tax system related to REITs, simplifying procedures and increasing participation of investors, especially small investors.