KARACHI: The State Bank of Pakistan (SBP) has decided to allow teenagers to open bank accounts and operate them independently, without their parents’ interference.

“In an important move to foster a financially savvy young generation, the State Bank has introduced a new framework for teenagers’ accounts, allowing them to independently own and operate bank accounts and digital wallets,” said the SBP on Wednesday.

The framework is designed to empower the country’s youth to save securely, transact confidently, and develop responsible financial habits, it added.

By offering an accessible entry into the formal financial system at an early age, the SBP aims to encourage meaningful participation of teenagers in the economy.

26m youngsters to benefit from SBP’s initiative, fostering digital skills and growth

“The initiative addresses a critical gap in Pakistan’s financial landscape,” said the SBP, adding that while overall account ownership has increased to 67 per cent of the adult population, teenagers have largely been restricted to joint or ‘parent-controlled’ accounts, which limits their practical financial engagement and learning.

“With around 26 million Pakistanis aged between 13 and 18 years, this framework aims to nurture a generation that is financially literate, digitally skilled, and capable of driving future growth,” said the SBP.

The key features of the new framework include ownership and independent operation; teenagers can now manage their accounts and wallets directly, fostering a sense of responsibility.

Secure and structured access; built within a regulated environment, the framework guarantees safety while introducing young users to formal financial services.

Foundation for the digital economy; equips young people with the tools and experience needed to engage in an increasingly digital financial ecosystem.

“This initiative is a key part of SBP’s Strategic Plan 2023-28 and the National Financial Inclusion Strategy (NFIS) 2024-28, which emphasise youth inclusion,” said the SBP.

It also builds upon Pakistan’s internationally recognised efforts in this field, following the SBP’s receipt of the AFI Global Youth Financial Inclusion Award last year.

The teenager account framework is more than just a new banking product — it is a strategic move towards a more inclusive financial system.

“By empowering teenagers, Pakistan is developing a stronger and financially literate youth capable of independently and effectively accessing a variety of financial services offered by banks and financial institutions,” said the SBP.

Published in Dawn, April 2nd, 2026