Innovation Hub: SBP opens ‘Mojaloop Accelerator Programme’

KARACHI: The State Bank of Pakistan (SBP) on Tuesday launched the collaboration framework of its Innovation Hub. Established under SBP Vision 2028, the Innovation Hub provides 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 Programme for Pakistan, launched in partnership with the Mojaloop Foundation. 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.

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

The Mojaloop Foundation, a non-profit organisation that maintains the 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. Participants will also join the Mojaloop technical community, supporting continued learning and helping institutions apply global best practices to Pakistan’s evolving payments landscape.

The initiative reflects SBP’s commitment to responsible innovation, a stronger digital payments ecosystem and greater financial inclusion in support of inclusive economic growth.

Copyright Business Recorder, 2026