SBP Regulated Entities desirous of entering the sandbox in order to test a proposition can apply to the sandbox.

Entities Licensed by Other Regulators in the country can also apply to participate in the sandbox. Such entities may include technology service providers, telecom companies, payment system platforms, e-commerce platforms, third party service providers, Fintechs, etc. For such entities, access to the sandbox may be obtained through one of the following options:
● Partnering with SBP licensed entity. In this scenario, the RE will be responsible for applying to SBP’s sandbox
● The entity may directly apply to SBP through application process of the sandbox

Non-licensed Local Start Ups/Individual Applicants with innovative Fintech solutions, having clear intent to get registered / authorized to market the solution/product/service after successful testing, may apply to participate in sandbox. Such entities may also partner with the entities regulated by SBP to apply for participation in sandbox.

Entities Incorporated Outside Pakistan can apply for the sandbox testing through either of the following options:
● Partnering with an SBP licensed entity. In this scenario, the RE will be responsible for applying to SBP’s sandbox
● Establishing an office in Pakistan and obtaining a certificate of incorporation by the relevant regulatory body of Pakistan

A Sandbox Environment facilitates - innovative products, services, business models or technology, pursuant to a specific testing plan, which includes some degree of regulatory lenience combined with certain safeguards

RSB participants will be provided the opportunity to discuss their ideas with regulators to understand the national, legal and regulatory framework and startegic direction of the central bank and financial sector

SBP RSB offers mentorship by providing support and expertise to innovators testing new financial technological, or regulatory solutions.
● Expert Advice: Regulators and industry experts may help RSB participants to understand legal and compliance requirements
● Regulatory Guidance: Participants receive direct feedback on how their innovations fit within existing laws, helping them refine their models
● Networking Opportunities: Sandbox will connect participants with industry leaders, investors, and policymakers
● Workshops & Trainings: Hosting sessions to educate participants on regulatory frameworks, risk management, and business development
● Iterative Feedback: Participants may get ongoing evaluations, allowing them to adjust their approach before launching fully into the market