Pakistan, July 26 -- SBP has issued the consolidated framework for customer onboarding and advised banks and regulated entities (REs) to provide Digital Payment Acceptance solutions to their customers engaged in instore and/or online business/trade activities. New customer onboarding framework aims to simplify and standardize the account opening process and rationalize the documentary requirements along with the enablement of digital and convenient interfaces for account opening across different customer touch points.

SBP has advised REs to ensure that the turnaround time for new account opening does not exceed two days for general public. Customers should also be able to track the status of their account opening applications, making the...