New core banking network deployed
“United States Charge d'Affaires Natalie Baker on Friday joined State Bank of Pakistan (SBP) Governor Jameel Ahmad and senior executives from Cisco Systems Pakistan at the central bank's head office in…”
"The multimillion-dollar project, awarded to US technology company Cisco, marked a significant step towards modernising Pakistan's critical financial infrastructure," said a press release. The project established a secure, agile and resilient software-defined data centre architecture designed to safeguard monetary stability and ensure reliable digital banking services across the country, it added.
Speaking at the deployment ceremony, Baker emphasised the importance of trusted and secure technology in supporting modern financial systems, highlighting the growing commercial ties between the United States and Pakistan. She described the central bank's infrastructure as "a national asset that underpins economic stability and public confidence".
"The State Bank of Pakistan's choice to partner with American industry demonstrates a commitment to technology quality, security, and long-term reliability," Baker said. She added that the US valued its longstanding commercial partnership with Pakistan and stood ready to continue connecting Pakistani institutions with "world-class American innovation".
"Stay connected with Aman-e-Pakistan for ongoing live reporting and verified investigative updates."
Meanwhile, Ahmad and Cisco Pakistan Country General Manager Kashif Ul-Haque praised the joint engineering effort behind the project, which involved completing a complex implementation and migration while maintaining uninterrupted central banking operations.
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