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SBP to Mandate Biometric and Facial Verification for All Currency Transactions from Jan 1
State Bank of Pakistan mandates that from Jan 1, 2025, all citizens buying or selling foreign currency must undergo biometric and NADRA facial recognition verification to curb illegal transactions.
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by Muhammad Hashir
2025-12-13
SBP to Mandate Biometric and Facial Verification for All Currency Transactions from Jan 1

The State Bank of Pakistan (SBP) has issued new instructions requiring all money exchange companies to verify the identity of citizens through both biometric and facial recognition systems from January 1, 2025.

Under this directive, anyone buying or selling foreign currency at exchange outlets across Pakistan must have their identity confirmed using NADRA’s facial recognition system in addition to existing biometric verification. The move aims to prevent illegal currency transactions and maintain a complete, accurate, and authentic record of all foreign currency dealings.

To facilitate this, the SBP has instructed money changers to install high-resolution cameras at their branches, connected to NADRA’s system, ensuring that the identification process is fast, secure, and effective.

Currently, money changers implement biometric verification with some flexibility: transactions up to $2,500 do not require an identity card, while those above $2,500 require a copy of the identity card. Transactions exceeding $5,000 require additional documentation about the source and purpose of funds.

The new instructions remove these flexibilities, making biometric verification and facial recognition mandatory for all transactions, regardless of the amount.

Speaking to media, Malik Bostan, Chairman of the Exchange Companies Association of Pakistan, said that biometric verification has been in practice for several years, but some citizens could not be verified due to system shortcomings. He added that the SBP’s instructions did not clarify whether the mandate applies to currency sellers as well as buyers, or if any amount limits exist, and the association plans to seek further clarification.

This development is part of the SBP’s broader efforts to strengthen oversight of the foreign exchange market and ensure that all currency transactions in Pakistan are fully traceable and compliant with regulatory standards.
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SBP

NADRA

StateBankOfPakistan

CurrencyVerification
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