SBP Unveils Consumer Protection Framework for Finance

On Tuesday, the State Bank of Pakistan (SBP) unveiled the draft Business Conduct and Fair Treatment of Consumers Regulatory Framework (BC&FRF), crafted to bolster consumer protection and guarantee equitable treatment across the financial sector.

This framework establishes principles and rule-based directives to foster responsible business conduct, accountability, and transparency among banks, non-banking financial institutions, and other regulated entities.

The SBP underscored that the framework aims to ensure all consumers are treated with respect and fairness, with financial services delivered in a transparent manner. It addresses critical areas like complaint handling, disclosure requirements, ethical conduct, and the obligations of financial institutions toward their clients.

The central bank highlighted that public consultation is a vital pillar of the regulatory process, inviting consumers, industry stakeholders, and the public to provide feedback to shape the final framework. The draft is accessible on the SBP’s official website, with comments accepted until September 30, 2025.

The SBP urged individuals and organizations to submit suggestions and observations, emphasizing that stakeholder engagement is essential for establishing robust consumer protection standards in Pakistan’s financial sector.