Regulatory Alerts2025-07-22 | BPRD Circular Letter No. 17Facilitation Framework - BISP Sahulat Account
The State Bank of Pakistan’s Banking Policy and Regulations Department has issued a revised circular mandating all banks and microfinance institutions to open Sahulat accounts for Benazir Income Support Programme beneficiaries. The framework establishes a standardized onboarding and activation process requiring biometric verification or NADRA Verisys, secure data sharing with BISP and NADRA, and the issuance of cheque books or PayPak debit cards. Beneficiaries can withdraw funds via branches and ATMs without off-us transaction charges, while banks must maintain dedicated coordination functions, employee training, and 24/7 customer support to ensure seamless disbursements during the initial pilot phase.
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