SBP issues credit cards

In order to promote an electronic mode of transaction in Pakistan, the State Bank of Pakistan has introduced an advanced digital platform known as Prepaid Card Regulation.This section has been issued in regards to Section 3 of the “Payment Systems and Electronic Fund Transfers Act, 2007”.

According to the reports, 33 million people in Pakistan use plastic cards including Debit and Credit cards.


On the other hand, prepaid cards are solely used by consumers who do not have access to Debit or Credit cards which is why the Prepaid Cards are considered beneficial for low-income and unbanked individuals.

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Regulations for issuing easy to use prepaid cards have been finalized in line with the international recommendations including FATF. These FATF recommendations are likely to minimize risk factors of AML/CTF.

Moreover, to make the prepaid card system a wider and acceptable mode of transaction medium in the domestic market, the SBP has also allowed Authorized Agents to offer prepaid cards in the market.

The maximum limit of the prepaid cards issued by the SBP is 0.5 million. According to, the maximum aggregate loadable amount for all categories of cards issued and distributed directly by a Bank against a single CNIC is Rs 100,000 for cards issued/activated after CNIC verification and Rs 500,000 for cards issued/activated after biometric verification with NADRA system.

The maximum aggregate loadable amount on social transfer card, however, cannot exceed Rs.100,000 while the maximum aggregated loadable amount on Hajj cards shall not exceed SAR 5,000.

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The regulation also states that prepaid cards can only be issued directly after meeting the customers while the Hajj cards shall be issued by the Bank only.

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