SBP launches new Innovation Hub Collaboration Framework, Mojaloop Accelerator Program

KARACHI, Nov 03 (APP): The State Bank of Pakistan (SBP), on Tuesday, launched the Collaboration Framework of its Innovation Hub and the Mojaloop Country Accelerator Program to strengthen Pakistan’s financial technology ecosystem.

The inauguration ceremony, held at SBP Karachi, was attended by SBP leadership, representatives of the Mojaloop Foundation, and senior representatives of banks, financial institutions, technology firms, fintechs and academia, said a statement issued here.

The SBP Innovation Hub, established under SBP Vision 2028, provides a platform for structured engagement with the financial technology ecosystem, and 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- a non-profit organization that maintains the Mojaloop open-source payment software, it added.

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

The Mojaloop Foundation is supporting the accelerator through program design and technical training. The 16-week program 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 program aims to develop expertise in digital payment infrastructure. Participants will also join the Mojaloop technical community, that is supporting continued learning and helping institutions apply global best practices to Pakistan’s evolving payments landscape.

The SBP spokesperson termed the initiative as a reflection of the central bank’s commitment to responsible innovation, a stronger digital payments ecosystem and greater financial inclusion in support of inclusive economic growth.