KARACHI: The multimillion-dollar core banking network project awarded to US technology leader Cisco marks a major milestone in the modernisation of Pakistan’s critical financial infrastructure, an official statement said on Friday.
The project establishes a secure, agile, and resilient software-defined data centre architecture designed to safeguard monetary stability and ensure reliable digital banking services nationwide, it added.
US Chargé d’Affaires Natalie Baker joined State Bank of Pakistan Governor Jameel Ahmad and senior executives from Cisco Systems Pakistan at the SBP headquarters to mark the successful deployment of the bank’s new core banking network and software-defined data centre.
Baker emphasised the strategic value of trusted and secure technology in underpinning modern financial systems and highlighted the growing commercial ties between the US and Pakistan.
“The central bank’s infrastructure is a national asset that underpins economic stability and public confidence,” Baker said.
“The State Bank’s choice to partner with American industry demonstrates a commitment to technology quality, security, and long-term reliability. The US values its long-standing commercial partnership with Pakistan, and we stand ready to continue connecting Pakistani institutions with world-class American innovation,” said Baker.
SBP Governor Jameel Ahmad and Cisco Country General Manager Kashif Ul-Haque praised the joint engineering effort that completed the complex implementation and migration while maintaining uninterrupted central banking operations.
Published in Dawn, November 7th, 2026
