Adopting a risk-based KYC mechanism
Reform ID		E538
Description		The State Bank of Pakistan introduced a tiered, risk-based KYC framework through the Consolidated Customer Onboarding Framework (CCOF), allowing simplified due diligence for low-risk customers including domestic SMEs, with biometric and NADRA verification for identity checks. This ensures AML/CFT compliance without overburdening low-risk customers.
Department		State Bank of Pakistan - SBP
Jurisdiction / Location		Entire Pakistan
Sector		All Sectors
Start Date
Target Deadline
Date Enacted
Implementation Status		Completed
Progress		100%
CCORR Direction
Cost Savings PKR (Mil.)
Evidence