Millions of Pakistanis could lose access to their digital bank accounts and mobile wallets starting October 25, 2025, as the State Bank of Pakistan (SBP) enforces its new biometric verification rules.
The updated policy — issued under BPRD Circular No. 1 of 2025 — requires biometric verification to be the primary method of customer identification across all financial institutions regulated by the SBP.
This includes commercial banks, digital banks, microfinance banks, development finance institutions (DFIs), and electronic money institutions (EMIs).
🧾 New Rules and Their Impact
Under the new framework, any customer who fails to complete biometric verification by October 25 may face:
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Account debit restrictions
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Blocked wallet transactions
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Suspension of fund transfers (send/receive)
Experts estimate that tens of millions of accounts could be affected, including foreign currency and Roshan Digital Accounts held by overseas Pakistanis.
🔍 What the SBP Circular States
The SBP’s “Consolidated Customer Onboarding Framework” standardizes customer verification for both in-branch and remote onboarding — for individuals as well as entities.
It aims to:
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Strengthen anti-money laundering (AML) and counter-terrorism financing (CFT) measures
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Ensure consistent customer due diligence (CDD) across all banking channels
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Enhance financial system integrity
All institutions were given a three-month compliance window, which now expires. The SBP has not announced any extension.
🗣️ Industry Reaction
Banking and fintech experts say this move will boost transparency but could also cause temporary disruptions for users who have not yet completed biometric verification — especially those living abroad or in remote regions.
Financial institutions have been sending reminder messages and emails urging customers to verify their accounts to avoid service suspension.
