FATF

FBR to implement real estate rules as per FATF action plan

FBR to implement real estate rules as per FATF action plan

February 27, 2020

ISLAMABAD: Following the Financial Action Task Force’s (FATF) decision to extend the deadline for Pakistan to complete its 27-point action plan, the Federal Board of Revenue (FBR) is determined to step up monitoring of real estate, gems and jewellery sectors. Implementation of rules in the aforementioned areas will reportedly take[...]
SBP records $13.3bn in remittance inflows for Jul-Jan FY20

SBP records $13.3bn in remittance inflows for Jul-Jan FY20

February 14, 2020

KARACHI: The State Bank of Pakistan (SBP) has reported an increase of 4% in remittances sent by overseas Pakistanis, with the current inflow totalling $13.3billion in the first seven months of the current fiscal year. Figures for the same time frame last year stood at $12.77billion. In January alone, the[...]
Real estate among others to be monitored via interim setup

Real estate among other sectors to be monitored via interim setup

November 25, 2019

ISLAMABAD: The government’s efforts to address concerns raised by the Financial Action Task Force (FATF) have led to the development of an interim regulatory framework to bring all unregulated sectors of the Pakistan’s economy under scrutiny. The National FATF Coordination Committee (NFCC), commissioned by Prime Minister Imran Khan in the[...]
Questionable role of shell firms a cause of concern, says FATF report

Questionable role of shell firms a cause of concern, says FATF report

October 28, 2019

ISLAMABAD: In its latest report, the Financial Action Task Force (FATF) has voiced its concerns on the doubtful role of shell companies, terming them a harbour of money laundering. The report further emphasised on “best practices” for governments to “get rid of the cloak of secrecy” pertaining to the actual[...]
FATF action plan to be implemented by February: Hafeez

FATF action plan to be implemented by February: Hafeez

October 22, 2019

WASHINGTON: Pakistan is committed to thoroughly implementing its action plan to counter money laundering and terrorist financing by February next year and there’s no disagreement among various government institutions on this matters, says Financial Adviser Abdul Hafeez Shaikh. The Financial Action Task Force (FATF) gave Pakistan four months on Friday,[...]
FATF expresses satisfaction over risk assessment study of Pakistan

FATF expresses satisfaction over risk assessment study of Pakistan

October 15, 2019

PARIS/ISLAMABAD: The Financial Action Task Force (FATF) studied the compliance report of Pakistan in its meeting held in Paris on Monday and expressed satisfaction over the risk assessment study of Pakistan. With the support of brotherly countries including China, Turkey and Malaysia, the threat of being placed on FATF’s blacklist[...]
Pakistan to take measures against black money in real estate

Pakistan to take measures against black money in real estate

October 8, 2019

ISLAMABAD - Pakistan, to comply with conditions put forth by the Asia Pacific Group (APG) – a regional affiliate of the Financial Action Task Force (FATF) – as the state is soon to employ measures against black money in the real estate sector. It has been reported that an authority[...]