ISLAMABAD-APRIL,2- The State Bank of Pakistan (SBP) has introduced a new framework enabling teenagers to independently open and manage bank accounts and digital wallets, in a major step toward promoting financial inclusion and literacy among the country’s youth.
According to an official statement issued on Wednesday, the initiative aims to help young people save securely, carry out transactions confidently, and develop responsible financial habits from an early age.
The central bank said the move is designed to integrate teenagers into the formal financial system earlier in life, encouraging meaningful participation in the economy.
“While overall account ownership has risen to 67% of the adult population, teenagers have largely remained limited to joint or parent-controlled accounts, restricting their financial learning and engagement,” the statement noted.
The SBP highlighted that Pakistan has around 26 million individuals aged between 13 and 18 years, making this framework a significant step toward building a financially literate and digitally capable generation that can contribute to future economic growth.
Key Features of the Framework
The new system allows teenagers to independently operate their accounts and digital wallets, giving them full control within a regulated and secure banking environment. It is also designed to provide safe access to formal financial services while gradually introducing young users to Pakistan’s expanding digital economy.
The central bank added that the initiative goes beyond being a banking product, describing it as a strategic effort to create a more inclusive and future-ready financial system in the country.
