ISLAMABAD: Millions of Pakistanis could lose access to their digital bank accounts and mobile wallets starting October 25, 2025, as new biometric verification regulations by the State Bank of Pakistan (SBP) take effect.
Under the updated rules issued in July through BPRD Circular No. 1 of 2025, all banks, digital banks, microfinance institutions, development finance institutions, and electronic money institutions are required to make biometric verification the primary mode of customer identification.
The initiative aims to streamline account opening and strengthen measures against money laundering and terror financing.
Previously, customers were given up to 60 days to complete biometric verification before facing debit restrictions. However, under the new framework, those who fail to verify their biometrics by the deadline may experience immediate service disruptions, including the inability to send or receive funds.
Experts caution that the new rule could impact tens of millions of accounts nationwide, including foreign currency and Roshan Digital Accounts.
The SBP’s ‘Consolidated Customer Onboarding Framework’ applies to both in-branch and remote onboarding for individuals and businesses, covering local and foreign currency accounts. The framework introduces a unified process for customer due diligence, ensuring consistency regardless of how or where an account was opened.
All SBP-regulated entities — including banks, DFIs, microfinance institutions, digital banks, and e-money operators — were given three months to comply with the new requirements. The SBP has not announced any extension to the October 25 deadline.
