Millions of Pakistanis are now at risk of losing access to their digital bank accounts and mobile wallets, as the State Bank of Pakistan (SBP) enforces its biometric verification deadline, which officially passed on October 25. The new rules, introduced under BPRD Circular No. 1 of 2025, are now fully in effect — and financial institutions have begun enforcing them.
SBP’s New Rules Reshape Digital Banking
The updated regulations require all SBP-regulated entities — including commercial banks, digital banks, microfinance institutions, DFIs, and electronic money institutions (EMIs) — to adopt biometric verification as the primary method of customer authentication. This shift is part of SBP’s broader push to strengthen anti-money laundering (AML) and counter-terrorism financing (CFT) protocols under its 2025 Consolidated Customer Onboarding Framework.
Biometric Verification Now Mandatory at Onboarding
Previously, customers had a 60-day grace period to complete biometric verification after opening an account. Under the new framework, however, biometric verification must now be completed before any banking or wallet relationship is established — whether onboarding happens in-branch or remotely. The policy replaces the 2022 framework, which allowed initial verification via NADRA’s Verisys system, followed by biometric checks within two months.
Unverified Accounts Face Immediate Disruptions
With the grace period now expired, millions of unverified accounts are expected to face service disruptions, including debit blocks and restricted access to funds. Industry insiders warn that the impact could be especially severe for users of foreign currency accounts and Roshan Digital Accounts, potentially affecting remittance flows and international transactions.
Financial Institutions Begin Enforcement
Banks and EMIs were given a three-month window to comply with the SBP biometric verification rules. As enforcement begins, institutions are urging customers to complete verification immediately to avoid being locked out of their accounts.
Accessibility and Infrastructure Concerns Remain
While the SBP’s move signals a major shift in Pakistan’s digital banking landscape — one that prioritizes security and regulatory compliance — it also raises concerns about accessibility and preparedness, especially in regions with limited biometric infrastructure or low digital literacy.
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