By S.M. Inam
KARACHI: The State Bank of Pakistan has introduced a new framework to expand financial access for young people, allowing teenagers to open and manage their own bank accounts and digital wallets, Metro Morning reported.
Under the initiative, individuals aged 13 to 18 will be able to independently access regulated financial services, marking a significant step toward integrating younger segments of the population into the formal banking system.
According to the SBP, the framework is designed to promote financial literacy and encourage responsible money management among youth. Teenagers will be allowed not only to open accounts but also to operate them independently, within a secure and regulated environment.
The central bank emphasized that the initiative aims to equip young people with practical financial experience early, helping them better understand saving, spending, and the use of digital financial tools.
