All biometrically unverified bank accounts will be suspended after 31st May, says State Bank

All biometrically unverified bank accounts will be suspended after 31st May, says State Bank

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All bank account holders must verify their bank accounts before 31st May to avoid suspension.

According to sources, The State Bank of Pakistan has issued a notification to all banks in the country.

The State Bank wants all accounts to be biometrically verified as part of its crackdown against money laundering and terrorism funding. It wants to verify that all account holders are registered with NADRA.

As per the State Bank, all customers whose identity documents are biometrically verifiable from NADRA need to verify their accounts regardless of the nature or currency of the accounts.

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