Millions of Pakistanis could lose access to their digital bank accounts and mobile wallets starting today, as the State Bank of Pakistan (SBP) enforces new biometric verification regulations aimed at tightening financial security and compliance standards.
Under the updated SBP Customer Onboarding and Biometric Verification Framework, issued through BPRD Circular No. 1 of 2025 in July, all banks, digital banks, microfinance banks, development finance institutions (DFIs), and electronic money institutions (EMIs) are now required to use biometric verification as the primary method of customer identification.
Immediate Impact on Account Holders
Previously, customers who had not completed biometric verification were given a 60-day grace period before facing account restrictions. However, under the new rules, any unverified account may now face immediate service disruption — including restrictions on sending or receiving funds.
Experts estimate that tens of millions of accounts, including foreign currency and Roshan Digital Accounts (RDA) operated by overseas Pakistanis, could be affected if customers fail to complete biometric verification in time.
Unified Framework for All Financial Institutions
The Consolidated Customer Onboarding Framework introduced by the SBP now applies uniformly across all types of account openings — whether conducted in-branch or remotely. It covers both local and foreign currency accounts, introducing a standardized approach to customer due diligence (CDD) across Pakistan’s financial sector.
The new framework is designed to strengthen anti-money laundering (AML) and counter-terrorism financing (CTF) measures while streamlining digital onboarding processes for individuals and businesses.
Deadline and compliance requirements
Financial institutions were given a three-month compliance period following the July announcement to implement biometric verification systems and update their customer databases. Despite requests from the industry for an extension, the SBP has not announced any deadline relaxation.
Banking officials say that while the measure enhances security, the short compliance window has created operational challenges, particularly for institutions serving remote or overseas customers.
Strengthening financial integrity
According to the SBP, the move aims to enhance the integrity, transparency, and trustworthiness of Pakistan’s banking system. By enforcing biometric verification, the central bank seeks to eliminate fake or duplicate accounts, improve monitoring of financial flows, and ensure compliance with global AML/CTF standards.
What customers should do
The SBP has urged all account holders — including digital wallet users — to visit their respective banks or approved biometric centers immediately to complete verification and avoid service disruptions. Many banks have also launched mobile and in-branch verification campaigns to assist customers in meeting the new requirements.
