The State Bank of Pakistan has mandated facial recognition for all foreign currency transactions starting January 2026. Citizens must verify their identity through NADRA’s biometric and facial recognition systems at exchange companies. The move aims to curb illegal currency trading and maintain accurate records of all transactions.
High-resolution cameras linked to NADRA will be installed at all branches to ensure secure and efficient verification. Previously, biometric verification was required, but some limits existed, such as exemptions for transactions under $2,500. Now, all transactions, regardless of amount, must follow both biometric and facial recognition checks.
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For transactions above $5,000, customers must still provide proof of funds and transaction purpose. The new measures strengthen monitoring and enforcement of currency laws while enhancing transparency. Exchange companies will need to comply strictly to avoid penalties.
Malik Boustan, chairman of the Exchange Companies Association of Pakistan, said biometric verification had been in place for years, but system weaknesses sometimes caused incomplete checks. He added that the State Bank’s directive lacks clarity on whether it applies to currency sales as well.
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Authorities are expected to provide further guidelines to ensure full compliance. The initiative reflects Pakistan’s efforts to modernize financial controls and prevent illegal currency flows across the country.