SBP Launches New Framework to Strengthen Consumer Protection and Fair Business Conduct

October 18, 2025 (MLN):  The State Bank of Pakistan (SBP) has unveiled a landmark regulatory framework titled the "Business Conduct and Fair Treatment of Consumers Regulatory Framework (BC&FRF)" as part of its Vision 2028 agenda. Aimed at strengthening market conduct and consumer protection, the framework sets new industry standards for ethical, transparent, and customer-focused financial practices.

Developed through wide-ranging consultations with both consumers and industry stakeholders, the BC&FRF applies to banks, Development Finance Institutions (DFIs), Electronic Money Institutions (EMIs), and Payment System Operators/Providers (PSOs/PSPs).

The framework is structured in two parts:

• Part I outlines general principles based on desired consumer outcomes.
• Part II lays out six key pillars:
1. Governance and Oversight
2. Disclosure and Transparency
3. Fair Treatment and Business Conduct
4. Data Protection and Privacy
5. Dispute Resolution Mechanism
6. Awareness and Capacity Building

Covering the full product lifecycle—from development and marketing to complaints handling and account termination—the BC&FRF aims to foster a financial ecosystem rooted in fairness, trust, and accountability.

With this move, SBP reinforces its commitment to safeguarding consumer rights and promoting responsible, inclusive financial services in Pakistan.

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