Karachi: 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 instructions issued by the Ministry of Interior and Narcotics Control.
The new requirement expands the current biometric protocols, which presently rely on thumb and fingerprint verification through NADRA. According to a recent SBP circular, Chapter 7 of the Regulatory Framework for Exchange Companies mandates biometric verification of customers, and the integration of facial recognition is intended to ensure uniform, consistent, and enhanced security across all identification systems.
Exchange companies have been instructed to take all necessary administrative and technical measures to meet the deadline. Industry officials noted that ECs already perform real-time thumb and fingerprint verifications through NADRA before processing transactions and maintain six months of CCTV recordings as part of their compliance obligations.
The introduction of facial recognition is expected to strengthen the security framework for financial transactions, enhance customer identification, and reduce the risk of fraud in the exchange sector.
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