The State Bank of Pakistan (SBP) has officially instructed all banks and microfinance institutions to open accounts for BISP beneficiaries, revising the Facilitation Framework for Sahulat Accounts. This initiative will support direct financial assistance disbursement and improve banking access for BISP beneficiaries across Pakistan.
The updated framework is set to roll out in major cities during a pilot phase, including Karachi, Lahore, Islamabad, Quetta, Peshawar, Muzaffargarh, Muzaffarabad, and Gilgit. Based on the outcomes and evaluations from this phase, the SBP plans to extend the process to other districts.
Under the new system, the Benazir Income Support Programme (BISP) will securely transfer verified information of BISP beneficiaries such as CNIC, full name, date of birth, and address to selected banks. This data will then be screened against existing lists of designated and proscribed individuals before accounts are created at designated branches.
Each account will be assigned an IBAN and shared with BISP, but the account will stay inactive until the respective BISP beneficiary visits their designated bank branch and completes the activation. Beneficiaries will be notified via SMS and web portal, informing them of their assigned bank, location, and scheduled date for activation.
To activate the account, BISP beneficiaries must visit the bank with a valid CNIC and complete biometric verification (BV). If BV fails due to genuine limitations, verification through NADRA’s Verisys system will be allowed. Additional personal details—such as CNIC issue/expiry dates, birth location, and contact information—will also be collected.
Verbal consent from BISP beneficiaries will be obtained for compliance with FATCA/CRS requirements, acceptance of terms and conditions, and authorization for the use of data in due diligence and supervision.
Once activation is complete, banks will initiate the issuance of a cheque book with a minimum of five leaves. In cases where BV is not possible, beneficiaries will receive PayPak debit cards, and banks will assist in PIN generation via ATMs, call centers, SMS, or web portals.
BISP beneficiaries will receive their funds through RAAST or IBFT systems directly into their activated accounts. They can withdraw funds using the issued debit card or cheques during a second branch visit. Cheques will require thumb impressions, while BV or NADRA Verisys will again be employed for additional verification.
These Sahulat Accounts will not support internet or mobile banking features. However, banks must ensure that BV-enabled ATM and branch withdrawals are fully functional. Until then, cheque-based payments will remain in place. Importantly, debit cardholders can withdraw funds from any ATM across the country without off-us transaction charges.
To guarantee effective implementation, SBP has directed all banks to create dedicated units for BISP coordination. These banks must train their staff, establish complaint resolution protocols, and offer 24/7 customer support services.
This effort marks a significant move by SBP toward financial inclusion, ensuring streamlined access to support services for BISP beneficiaries, many of whom belong to economically vulnerable groups.
