On 25 October 2019, the State Bank of Pakistan (SBP) introduced the biometric verification system for overseas Pakistanis. This system was introduced for two types of overseas Pakistanis, such as:
- Biometric verification for overseas Pakistani who are living abroad permanently
- Biometric verification system for those who are living abroad temporarily.
If you want to get high returns on reliable investment with AAA associates, newly established project AAA LAMARCA, for further information contact us generously.
In this blog, we will shed light on biometric verification for overseas Pakistanis. Moreover, we will discuss the process and the documentation required for online verification. So, let’s dive in!
What is biometric verification?
Biometric verification means you will be identified via your biological traits by using an electrical device, such as fingerprints, retina patterns, voiceprint, signature and face features, etc.
This is the age of technology and people want to do their work instantly with just one click. Biometric verification system converted into digitalized from manual verification. This is why the government of Pakistan facilitates the overseas with the option to complete their biometric verification from the comfort of their home.
Documents Required for Biometric Verification
Overseas Pakistanis need to share the documents via email with the registered bank, these documents are given below:
- Copy of passport, visa, residence permit, and exit stamp.
- Copy of valid ID card (NICOP or CNIC).
- Undertaking for Exemption of Biometric Verification of Account.
After verification, your current status will be visible on the customer’s profile of your respective back.
If a person is not fulfilling the requirements of NRP or if he is living abroad temporarily. The respective bank can ask for proof of a valid passport, residential permit visa, etc., and your return date.
Biometric Verification is a Safe Process
The government took action against the fraudulent, money launderers spoiling Pakistan’s economy. A Biometric verification system helps to monitor all financial activities in banks. This step was important to capture all unethical and illegal economic activities. Because of money laundering, Pakistan faced an economic crisis and was included in the gray list that was shameful and embarrassing at the international level.
Conclusion
To wrap up the whole conversation, we can say that the major reason to pursue the idea of biometric verification is to monitor the economic mischievousness that is leading Pakistan into a crisis. It’s a safe and sound procedure, and the government is also aware of the activities of NRPs or temporarily residing individuals by the biometric verification of their bank accounts.
Come and join our hands, get the sweet smell of victory in real estate, and build confidence with us in AAA Associates project AAA OCTA, for more information clicks on contact us.
