The State Bank of Pakistan (SBP) has directed all exchange companies (ECs) to incorporate facial recognition into their biometric verification procedures by January 1, 2026, in line with new instructions issued by the Ministry of Interior and Narcotics Control.
The requirement expands the existing biometric protocols, which currently rely solely on thumb and fingerprint verification through Nadra.
In a recent circular, the SBP referred to Chapter 7 of the Regulatory Framework for Exchange Companies, under which biometric verification of customers is mandatory. The central bank stated that the Ministry of Interior has instructed Nadra to integrate facial recognition into its verification services to ensure uniform, consistent and enhanced security across identification systems.
ECs have been advised to take all necessary administrative and technical steps to meet the deadline.
Industry officials said exchange companies already conduct real-time thumb and fingerprint verifications through Nadra before processing any transaction, as required by the SBP.
In addition, ECs retain six months’ worth of CCTV recordings as part of their compliance obligations.
Discover more from Brackly News
Subscribe to get the latest posts sent to your email.
