Millions of Pakistanis may lose access to their digital bank accounts and mobile wallets starting October 25, 2025. The State Bank of Pakistan (SBP) is set to enforce new biometric verification regulations under its latest framework.
The move comes after the SBP issued BPRD Circular No.1 of 2025 in July. The new rules require all banks, digital banks, microfinance banks, development finance institutions (DFIs), and electronic money institutions (EMIs) to make biometric verification the primary method of customer identification.
This update is part of the SBP’s “Consolidated Customer Onboarding Framework”. The goal is to streamline account opening and strengthen anti-money laundering (AML) and counter-terrorism financing (CTF) measures.
Earlier, customers had 60 days to complete biometric verification before facing a debit block. However, under the new framework, users who fail to verify their accounts by October 25 may face immediate service disruptions. This includes the inability to send or receive funds.
Experts warn that tens of millions of accounts could be affected, including foreign currency accounts and Roshan Digital Accounts.
The new framework applies to both in-branch and remote onboarding. It covers individual and entity accounts, including those in local and foreign currency. The SBP now mandates a unified customer due diligence process, ensuring consistent verification across all platforms.
These requirements are mandatory for all SBP-regulated entities. Financial institutions were given a three-month window to comply with the new rules. So far, the SBP has not announced any extension to the deadline.
The central bank believes this step will enhance the integrity of Pakistan’s financial system and ensure a safer digital banking environment for everyone.