{"id":56777,"date":"2019-10-25T11:37:29","date_gmt":"2019-10-25T06:37:29","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=56777"},"modified":"2019-10-25T11:37:43","modified_gmt":"2019-10-25T06:37:43","slug":"sbp-announces-alternative-to-biometric-verification-for-overseas-pakistanis","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-announces-alternative-to-biometric-verification-for-overseas-pakistanis.html","title":{"rendered":"SBP announces alternative to biometric verification for overseas Pakistanis"},"content":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) has announced an alternative arrangement to address the biometric verification concerns of overseas Pakistanis, according to a news source. The financial institution on Thursday issued instructions to the authorities concerned regarding the measures introduced.<\/p>\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/sbp-to-establish-facilitation-desk-for-foreign-exchange-remittances.html\" target=\"_blank\" rel=\"noopener noreferrer\">SBP to establish facilitation desk for foreign exchange, remittances<\/a><\/p>\n<p>As per details, these <a href=\"https:\/\/www.zameen.com\/news\/fbr-clarifies-budget-measures-concerning-overseas-pakistanis.html\" target=\"_blank\" rel=\"noopener noreferrer\">expatriates<\/a> can access their respective banks via email or surface mail by providing valid documentation details in the form of passports, visas, Computerised National Identity Cards (CNICs), and National Identity Card for Overseas Pakistanis (NICOP). In return, these individuals will be provided access to their bank accounts \u2013 without the need to fulfil the initial biometric verification requirement.<\/p>\n<p>The SBP has been monitoring the progress of banks with regard to biometric verification \u2013 in compliance with the executive\u2019s orders to curb tax evasion and terror financing activities. It referred to one of its circulars regarding the compliance of the AML\/CFT regime by banks and development financial institutions (DFIs).<\/p>\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/sbp-issues-instructions-for-banks-to-stop-money-laundering.html\" target=\"_blank\" rel=\"noopener noreferrer\">SBP issues instructions for banks to stop money laundering<\/a><\/p>\n<p>As per this circular, banks and DFIs can receive a signed undertaking from overseas Pakistanis, notifying them of their non-resident status. The account holders will submit this undertaking along with their valid documents; which will enable them to operate their bank accounts on a routine basis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) has announced an alternative arrangement to address the biometric verification concerns of overseas Pakistanis, according to a news source. The financial institution on Thursday issued instructions to the authorities concerned regarding the measures introduced. Read: SBP to establish facilitation desk for foreign exchange, remittances As per details, these expatriates can access their respective banks via email or surface mail by providing valid documentation details in the form of passports, visas, Computerised National Identity Cards (CNICs), and National Identity Card for Overseas Pakistanis (NICOP). In return, these individuals will be provided access to their bank accounts \u2013 without the need to fulfil the initial biometric verification requirement. The SBP has been monitoring the progress of banks with regard to biometric verification \u2013 in compliance with the executive\u2019s orders to curb tax evasion and terror financing activities. It referred to one of its circulars regarding the compliance of the AML\/CFT regime by banks and development financial institutions (DFIs). Read: SBP issues instructions for banks to stop money laundering As per this circular, banks and DFIs can receive a signed undertaking from overseas Pakistanis, notifying them of their non-resident status. The account holders will submit this&hellip;<\/p>\n","protected":false},"author":58,"featured_media":23688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[13598,1685,6066],"persona":[],"class_list":{"0":"post-56777","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-biometric-verification","8":"tag-overseas-pakistanis","9":"tag-sbp"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP announces alternative to biometric verification for overseas Pakistanis - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) has announced an alternative arrangement to address the biometric verification concerns of overseas Pakistanis,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-announces-alternative-to-biometric-verification-for-overseas-pakistanis.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP announces alternative to biometric verification for overseas Pakistanis - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The State Bank of Pakistan (SBP) has announced an alternative arrangement to address the biometric verification concerns of overseas Pakistanis,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-announces-alternative-to-biometric-verification-for-overseas-pakistanis.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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