Regulatory Alerts2025-10-17 | BPRD Circular No. 04Business Conduct and Fair Treatment of Consumers Regulatory Framework (BC&FRF)
The State Bank of Pakistan has issued the Business Conduct and Fair Treatment of Consumers Regulatory Framework (BC&FRF) to consolidate, strengthen, and align existing financial institution guidelines with international best practices. The framework takes immediate effect for all financial institutions except electronic money issuers, which must comply by January 1, 2026, alongside a delayed governance oversight provision. It supersedes numerous prior circulars, mandates strict adherence to responsible conduct standards, and enforces punitive measures for non-compliance.
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