The State Bank of Pakistan on Wednesday rolled out a new framework enabling teenagers between 13 and 18 years to independently manage bank accounts and digital wallets, aiming to build a financially literate and digitally adept generation.
Currently, while 67 percent of adults hold bank accounts, teenagers are mostly confined to joint or parent-controlled accounts, limiting practical engagement with formal financial services. The SBP noted that the country has around 26 million citizens in this age group, highlighting the need for early financial inclusion.
The framework’s features include full ownership and self-management of accounts, structured and secure access to banking services, and a foundation for participation in Pakistan’s digital financial ecosystem. By allowing teenagers to control their accounts, the SBP expects to instill responsibility and enhance early financial skills.
Officials described the move as a strategic step toward an inclusive financial system, enabling young citizens to independently access and utilize a range of banking and digital financial services, preparing them for future economic participation.
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