The State Bank of Pakistan has switched on a new core banking network and software-defined data centre built with US technology company Cisco, in a multimillion-dollar project to modernise the country’s financial infrastructure. The deployment was marked at the central bank’s head office in Karachi on Friday, November 6, 2026.
What happened?
US Chargé d’Affaires Natalie Baker joined State Bank Governor Jameel Ahmad and senior executives from Cisco Systems Pakistan at the SBP head office to celebrate the successful deployment of the bank’s new core banking network and software-defined data centre. The multimillion-dollar project, awarded to Cisco, was described in an official statement as a major milestone in modernising Pakistan’s critical financial infrastructure.
Key details
- The project establishes a secure, agile and resilient software-defined data centre architecture designed to safeguard monetary stability and ensure reliable digital banking services across the country.
- SBP Governor Jameel Ahmad and Cisco Pakistan Country General Manager Kashif Ul-Haque praised the joint engineering effort that completed the complex implementation and migration while central banking operations continued without interruption.
- US Chargé d’Affaires Natalie Baker said the central bank’s infrastructure is a national asset that underpins economic stability and public confidence, and that the State Bank’s choice to partner with American industry demonstrates a commitment to technology quality, security and long-term reliability.
- The exact value of the contract has not been publicly disclosed.
What it means for people in Pakistan
A stronger core system at the central bank is designed to make digital banking services more reliable and secure for everyone who uses them, from everyday account holders to businesses moving money online. It also supports the wider push towards digital payments across the country.
Source: https://www.dawn.com/news/2042682/us-pakistan-deepen-digital-banking-ties
