SBP Launches New Framework Allowing Teenagers to Open and Operate Bank Accounts

Pakistan — The State Bank of Pakistan has introduced a new framework enabling teenagers aged 13 to 18 to independently open and operate bank accounts and digital wallets.

The initiative, announced on Wednesday, aims to promote financial literacy among young people and prepare them to actively participate in the economy.

Under the new framework, teenagers will be able to manage their own accounts and digital wallets, fostering a sense of responsibility and financial independence. The central bank emphasized that appropriate safeguards and controlled access mechanisms have been built into the system to ensure secure usage of financial services.

According to the SBP, nearly **26 million young individuals** across the country are expected to benefit from this initiative. The move is seen as a step toward developing a financially aware and digitally skilled generation.

The framework will also provide young users with greater access to formal financial services offered by banks, contributing to stronger financial inclusion and the development of a youth-friendly digital financial ecosystem in Pakistan.