KARACHI – National Institute of Banking and Finance-Pakistan (NIBAF Pakistan) and Risk Associates have joined hands to strengthen the cybersecurity and compliance readiness of Pakistan’s financial sector.
Both institutions signed a Memorandum of Understanding (MoU) in Karachi yesterday.
Ms. Lubna Farooq Malik, Co-CEO of NIBAF-Pakistan and Dr. Aftab Rizvi, CEO of Risk Associates, signed the agreement on behalf of their respective institutions.
According to the MoU, both institutions will collaborate to develop and deliver advanced training programs, advisory services, and capacity-building initiatives focused on cyber risk, governance, digital forensics, and compliance with international standards.
Ms. Lubna Malik observed that the financial industry stands at the forefront of profound digital transformation and, consequently, must also be at the very forefront of protecting itself. She highlighted that the collaboration would benefit industry professionals, especially in the banking sector, by enhancing their cybersecurity skills and knowledge through capacity building.
Dr. Aftab Rizvi said that static defences are no longer enough in today’s regulatory climate. Through this partnership, both NIBAF Pakistan and Risk Associates aim to embed technically rigorous frameworks alongside emerging domains like AI-driven threat modelling, automated GRC, and machine learning-based risk detection.
“Together with NIBAF-Pakistan, we are delivering forward-looking training that empowers banking professionals to anticipate, adapt, and respond to dynamic threats with operational precision and confidence,” he said.
The collaboration will focus on high-impact learning modules tailored to the needs of banking professionals, covering topics such as information security governance, cyber threat intelligence, PCI compliance, incident response, and digital transformation in financial institutions.
This strategic alliance marks a critical step towards bolstering cybersecurity maturity in Pakistan’s financial services sector and advancing the professional excellence of its human capital.
