SBP opens the banking system to teenagers in Pakistan

The State Bank of Pakistan has introduced a new framework that allows teenagers to independently own and operate bank accounts and digital wallets, in what it describes as a strategic step toward financial inclusion. The central bank said the policy is intended to help young Pakistanis save securely, transact confidently and build responsible financial habits from an early age.

According to the SBP, the move addresses a longstanding gap in the country’s financial landscape, where teenagers were largely limited to parent-controlled or joint accounts. With roughly 26 million Pakistanis aged between 13 and 18, the regulator said the framework is meant to build a more financially literate and digitally capable generation.

The central bank said the initiative provides structured access to regulated financial services while preparing youth for deeper participation in Pakistan’s growing digital economy. It added that the framework should be seen not merely as a new product, but as a broader push for a more inclusive financial system.