By Our Correspondent
KARACH – In a major step towards financial inclusion, the State Bank of Pakistan (SBP) has introduced a new framework allowing teenagers to independently own and operate bank accounts and digital wallets.
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According to an official statement, the initiative is aimed at building a financially aware and digitally skilled young generation by giving them early access to formal banking channels.
The central bank noted that while overall adult account ownership in Pakistan has reached 67 per cent, teenagers have largely remained dependent on joint or parent-controlled accounts, limiting their practical financial exposure.
With nearly 26 million individuals aged between 13 and 18 in the country, the SBP said the move is designed to bridge this gap and encourage meaningful economic participation among youth.
Under the new framework, teenagers will be able to manage their accounts independently, promoting financial responsibility and confidence. The system also ensures secure and structured access, enabling young users to safely engage with financial services.
The initiative further aims to prepare youth for the digital economy by equipping them with essential financial tools and real-world experience.
Officials described the framework as a strategic step towards a more inclusive financial system, adding that it will help nurture a generation that is financially literate, empowered, and capable of contributing to future economic growth.
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