Pakistan Streamlines Banking Onboarding Procedures to Boost Ease of Doing Business
The Board of Investment and Financial Authorities Have Introduced Risk Based KYC and Digital Verification to Simplify Bank Account Opening for Businesses.
SECP Proposes Biometric and IBAN Verification for Digital Investor Onboarding to Curb Financial Crime
The Securities and Exchange Commission of Pakistan introduces a new framework for multi-biometric verification and IBAN-based investor onboarding to enhance AML compliance.
State Bank of Pakistan Introduces Dual Biometric System for Exchange Company Customer Verification
The State Bank of Pakistan has directed exchange companies to adopt facial recognition alongside thumb and fingerprint scans from January 1, 2026, enhancing security and reducing identity fraud in foreign exchange transactions.
BISP Transitions to Fully Digital Payments for 10 Million Women with Mobile Wallet Accounts
Over 10 million women under Pakistan’s Benazir Income Support Programme have received mobile wallet accounts, enabling digital cash transfers and reducing reliance on agents, with full digital payments targeted by June 2026.
Mobile Wallets and Digital Bank Accounts Without Biometric Verification to Be Blocked From October 25
The State Bank of Pakistan’s new biometric verification regulations take effect on October 25, 2025, with unverified mobile wallets and digital bank accounts facing immediate service blocks under the updated customer onboarding framework.
State Bank Launches Revised Framework to Digitize BISP Sahulat Account Onboarding Across Pilot Cities
The State Bank of Pakistan rolls out a revised framework for BISP Sahulat Accounts, introducing biometric verification and secure digital processes for onboarding beneficiaries in pilot cities.
SBP Rolls Out Biometric Verification for Cash Deposits to Secure Digital Payments in Pakistan
The State Bank of Pakistan has mandated biometric verification for cash deposits via retailers starting July 1, 2025, aiming to reinforce security in digital transactions and protect mobile wallet users.