KARACHI: The State Bank of Pakistan (SBP) has announced that, under new regulatory guidelines, millions of citizens across the country could face the blocking of their mobile wallets and digital bank accounts starting October 25, 2025.
According to the latest SBP instructions, all account holders who have not completed their biometric verification will, from today, lose the ability to send or receive funds through their accounts.
In Circular No. 1 issued in July 2025, the central bank made it mandatory for all commercial banks, digital banks, microfinance institutions, development finance institutions, and electronic money institutions to adopt biometric verification as the primary mode of customer identification.
The SBP says the move is aimed at enhancing financial security, curbing fraudulent activities, and ensuring compliance with national and international regulatory standards.
However, the directive is expected to temporarily affect unverified users, urging them to complete their biometric verification at the earliest to avoid service disruptions.
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