Why Mobile Wallets, Digital Bank Accounts | Blocked From Tomorrow

Mobile Wallets, Digital Bank Accounts Without Biometric Verification to Be Blocked From Tomorrow

Millions of Pakistanis could lose access to their mobile wallets and digital bank accounts starting October 25, 2025. As the State Bank of Pakistan (SBP) enforces new biometric verification regulations.

The updated rules — issued in July under BPRD Circular No. 1 of 2025. Make biometric verification the primary method of customer identification across the banking sector. The requirement applies to all banks, digital banks, microfinance banks, development finance institutions (DFIs), and electronic money institutions (EMIs).

SBP officials say the move is aimed at improving the integrity of the financial system by tightening anti-money-laundering (AML) and counter-terrorism-financing (CTF) controls and streamlining account opening and onboarding.

Previously, account holders were given 60 days to complete biometric verification before facing debit restrictions. Under the new framework, those who fail to comply by October 25 will face immediate service suspension, including the inability to send or receive funds.

Experts estimate that tens of millions of accounts — including foreign currency and Roshan Digital Accounts — could be impacted.

The SBP’s Consolidated Customer Onboarding Framework now standardizes requirements for both in-branch and remote onboarding of individuals and entities. In local and foreign currencies. It introduces a single due-diligence process for all customer types, regardless of where or how accounts were opened.

All institutions regulated by the SBP were given three months to comply, and the central bank has not announced any extension to the deadline.