Regulatory Alerts2025-07-25 | BPRD Circular No. 01Consolidated Customer Onboarding Framework
The State Bank of Pakistan’s Banking Policy & Regulations Department has issued a consolidated framework to streamline customer onboarding and account opening processes for regulated entities. The document unifies existing AML/CFT/CPF instructions into a single set of information and documentary requirements applicable to various customer types, accounts, and wallets. Regulated entities must implement the updated guidelines and corresponding amendments within three months of the circular’s issuance.
Circulars/Notifications - Banking Policy & Regulations Department
BPRD Circular No. 01 of 2025
July 25, 2025
The Presidents/ Chief Executives SBP Regulated Entities
Dear Sir/Madam,
Consolidated Customer Onboarding Framework
Please refer to SBP’s AML/CFT/CPF Regulations for SBP Regulated Entities (REs) on the subject of customer due diligence and onboarding related requirements.
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To streamline the account opening/customer onboarding process and improve the customer experience, the existing frameworks/instructions on the subject have been consolidated into a single document, viz. Consolidated Customer Onboarding Framework . The framework lays out the requirements to be fulfilled by SBP REs while establishing relationships, including the information and documentary requirements for different types of customers and accounts/wallets.
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Accordingly, necessary amendments have been made in the existing instructions on customer onboarding due to consolidation into the framework ( Appendix-A ).
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SBP REs are advised to ensure meticulous compliance of the above instructions within 03 months from date of issuance of this Circular.
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Please acknowledge receipt.
Enclosed:
Consolidated Customer Onboarding Framework
Appendix-A
Yours truly ,
Sd/-
(Ghulam Muhammad) Director-BPRD