Millions of Pakistanis risk losing access to their digital bank accounts and wallets from October 25, 2025, as new biometric verification regulations introduced by the State Bank of Pakistan (SBP) come into force.

The SBP’s updated rules, issued in July under BPRD Circular No.1 of 2025, require all banks, digital banks, microfinance banks, development finance institutions, and electronic money institutions to make biometric verification the primary method for customer identification.

The move is part of efforts to streamline account opening and onboarding processes, and to strengthen anti-money laundering and counter-terrorism financing controls.

Previously, account holders had up to 60 days to complete biometric verification before facing a debit block. Under the new framework, customers who have not completed biometric verification by October 25 may face immediate service disruptions, including the inability to send or receive funds.

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Experts warn that tens of millions of accounts could be affected, including foreign currency and Roshan Digital Accounts.

The SBP’s ‘Consolidated Customer Onboarding Framework’ now applies to both in-branch and remote onboarding for individuals and entities, covering local and foreign currency accounts. The framework mandates a unified approach to customer due diligence, regardless of how the account was opened.

These requirements are mandatory for all SBP-regulated entities, including banks, DFIs, microfinance banks, digital banks, and electronic money institutions.

Financial institutions were given a three-month window to comply with the new requirements, which are designed to enhance the integrity of Pakistan’s financial system. The SBP has not announced any extension to the deadline.