The State Bank of Pakistan has made biometric verification through NADRA mandatory for anyone buying or selling foreign currency, directing all exchange companies to install face-scan cameras at their counters by January 1, 2026.

Under the new directive, every transaction will require real-time identity confirmation through the installed facial recognition system.

Malik Bostan, Chairman of the Exchange Companies Association of Pakistan (ECAP), said the step marks an important move toward a paperless system.

He noted that the currency-exchange process will remain the same, but companies must equip their counters with the required cameras.

ECAP General Secretary Zafar Paracha said the combination of NADRA ID checks and face-scanning will create a double-verification mechanism, improving transparency and reducing room for misuse.

He added that digitalisation will save time and make transactions more convenient for customers.

Industry representatives said the central bank’s decision aims to enhance compliance, strengthen monitoring, and modernise Pakistan’s foreign-exchange regime.