In view of increasing global and domestic cyber threats and related challenges to the financial ecosystem, SBP has developed a comprehensive Cyber Resilience Strategy for the SBP Regulated Entities (Cyber Shield) in line with the global best practices.
2. The strategy is a major initiative aimed at strengthening the safety and robustness of the country s banking and financial system. It is designed to better protect banks and financial institutions from cyber threats, thus ensuring that people and businesses can continue to access financial services safely. It sets out a clear roadmap to help financial institutions strengthen their systems and controls, prevent cyber incidents, respond quickly when cyber threats materialize, and recover effectively from such incidents.
3. The milestones laid down in the strategy will be implemented in a phased manner by 2030. All regulated entities are required to align their internal cybersecurity programs with the strategy to ensure compliance.
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