Call for joint efforts to combat money laundering, terror financing
ISLAMABAD: Federal Board of Revenue Chairman Muhammad Ashfaq Ahmed has stressed upon collective and continued efforts by FBR and real estate agents to combat money laundering and financing of terrorism.
The FBR chief said this while during a meeting with the real estate associations from all over Pakistan at the Federal Board of Revenue headquarters on Sunday.
The chairman FBR apprised the participants about the requirements of Financial Action Task Force (FATF) in relation to DNFBPs and stressed upon collective and continued efforts to combat money laundering and financing of terrorism.
Later, the session was opened for discussion wherein the representatives of real estate sector apprised FBR of their issues and asked questions in relation to implementation of FBR Regulations.
The DG DNFBPs responded to the questions and informed the participants that FBR would soon issue a shorter version of guidelines and a simplified customer due diligence (CDD) form in English and Urdu. The number of questions in the questionnaire will also be reduced as far as possible and made available to the real estate agents in Urdu, he added.
The DG DNFBPs further informed that FBR would continue facilitating the DNFBPs for compliance by sending its teams to visit offices of the real estate associations for assistance in filling the questionnaires. The inspections will continue to be undertaken in coordination with the real estate agents in a courteous manner. - TLTP