Millions of bank accounts in Pakistan to be blocked from tomorrow

ISLAMABAD: Millions of Pakistanis face being cut off from their digital bank wallets and accounts from October 25, 2025, when new biometric verification rules set by the State Bank of Pakistan (SBP) are implemented.

The SBP’s new guidelines, published in July as BPRD Circular No.1 of 2025, mandate all banks, digital banks, microfinance banks, development finance institutions, and electronic money institutions to ensure biometric verification is the standard means for identifying customers.

The action is among the steps aimed at simplifying account opening and onboarding procedures, and enhancing anti-money laundering and counter-terrorism financing measures.

Account holders previously had 60 days to finish biometric verification before being debited. Customers who have yet to finalize biometric verification by October 25 can experience immediate service interruption, including the inability to send or receive money.

Experts say that tens of millions of accounts might be impacted, including foreign currency and Roshan Digital Accounts.

The SBP’s ‘Consolidated Customer Onboarding Framework’ is now extended to both in-branch and remote onboarding for individuals and entities, including local and foreign currency accounts. The framework requires a standard approach to customer due diligence, irrespective of the method under which the account was opened.

These conditions apply to all SBP-regulated institutions, such as banks, DFIs, microfinance banks, digital banks, and electronic money institutions.

The three-month timeline has been provided to financial institutions to align with the new standards, which are intended to further upgrade the strength of Pakistan’s financial system. No extension of the deadline has been announced by the SBP.