KARACHI – Millions of Pakistanis may lose access to their digital bank accounts starting today (October 25) and wallets unless they complete mandatory biometric verification, as per new regulations from the State Bank of Pakistan (SBP).
The updated guidelines, which were issued under BPRD Circular No.1 of 2025 in July, require all financial institutions, including banks, digital banks, microfinance banks, development finance institutions, and electronic money institutions, to make biometric verification the primary means of identifying customers.
This move is part of the government’s broader efforts to enhance customer verification processes, combat money laundering, and strengthen counter-terrorism financing mechanisms.
Under the new framework, customers must complete biometric verification by October 25, 2025, or face immediate service disruptions, such as being unable to send or receive funds. Previously, account holders were given up to 60 days to complete this process before a debit block was applied.
The SBP’s revised ‘Consolidated Customer Onboarding Framework’ now applies to both in-branch and online account openings, ensuring uniform customer due diligence across all types of accounts, regardless of whether they were opened in-person or remotely.
Financial institutions were given a three-month grace period to implement these changes, which are designed to increase the security and integrity of Pakistan’s financial system.
