Risk Associates and NIBAF Pakistan sign MoU to advance Cybersecurity Capacity across Pakistan’s Banking Sector

The MoU establishes a strategic framework through which 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 including PCI DSS and ISO/IEC 27001.

Dr. Aftab Rizvi, CEO of Risk Associates, remarked that static defenses are no longer enough in today’s regulatory climate. Through this partnership, both NIBAF Pakistan and Risk Associates aim to embed technically rigorous frameworks—such as PCI DSS and ISO/IEC 27001—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 noted.

Ms. Lubna Malik while emphasising the critical significance of cyber risk for the financial industry 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. In this context, she highlighted that the collaboration between NIBAF and Risk Associates would benefit industry professionals, especially in the banking sector, by enhancing their cybersecurity skills and knowledge through capacity building.

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.