KARACHI – A huge number Pakistanis faces risk of losing their digital bank accounts and wallets, including services like Jazzcash and Easypaisa, as new regulations declaring biometric verification mandatory has come into effect from today (October 25).
Under BPRD Circular No. 1 of 2025, the State Bank of Pakistan (SBP) declared the biometric verification mandatory and had given three months to the financial institutions to comply with the new regulations.
The financial institutions, which were given the directives to ensure biometric verification of customers, includes commercial banks, digital banks, microfinance banks, development finance institutions, and electronic money institutions.
The new rules are part of the SBP’s efforts to improve account opening processes and strengthen measures against money laundering and terrorism financing.
Previously, account holders had 60 days to complete the biometric verification process before facing restrictions on their accounts. However, under the new regulations, users who fail to complete the process by October 25 could experience immediate disruptions, such as the inability to send or receive funds.
The SBP’s ‘Consolidated Customer Onboarding Framework’ now applies to both in-branch and remote onboarding procedures for individuals and businesses. The framework ensures that customer due diligence is consistent, regardless of how the account was opened. This new policy impacts both local and foreign currency accounts.
The central bank has not made any announcement regarding extension to the deadline.
