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biometric verification

State Bank directs banks, DFIs to carryout biometric verification of customers

KARACHI: The State Bank of Pakistan (SBP) has directed all Pakistani banks and Development Financial Institutions (DFIs) to carry out biometric verification of the existing customers by 30th November 2018, to eliminate fake accounts and end illegal transactions. The central bank in a statement said, to preserve the integrity, soundness and safety of the financial system, SBP has been endeavoring to prevent the possible use of the banking sector for money laundering, terrorist financing and other illicit activities.…