Anti-money laundering efforts: FBR extends scope of DNFBPs to Quetta and G-B

ISLAMABAD: The Federal Board of Revenue (FBR) has extended the scope of Directorate General of Designated Non-Financial Business and Professions (DNFBPs) to Quetta and Gilgit-Baltistan to register and regulate the business activities of real estate sector, jewelers, and accountants to prevent any attempt of money laundering/ terrorist financing in these sectors. In this connection, the FBR has issued a notification here on Saturday.

According to the FBR's notification, customs officials of the Model Customs Collectorate (MCC) Quetta and MCC Gilgit-Baltistan have been assigned additional duties of deputy directors and additional directors of the Directorate General of DNFBPs to work at Quetta and Gilgit-Baltistan.

The FBR has decided to completely document business of real estate agents and jewellers, who will be required to maintain a record of actual beneficial owners of immovable properties and jewellery, respectively, and report all suspicious transactions of their buyers/sellers to the FBR. Consequent upon the operationalisation of Directorate General of DNFBPs at Islamabad, Dr Bashirullah Khan (IRS/BS-21) Director-General, Directorate General of Intelligence and Investigation (IR), Islamabad was given additional charge of the post of Director General, Directorate General of DNFBPs.

Zafar Iqbal Khan (IRS/BS-20) Director, Directorate General of Intelligence and Investigation (IR), Islamabad was given additional charge of Director (Regulations), DNFBPs Islamabad. Ahmad Kamal (IRS/BS-20) Director, Directorate of Intelligence and Investigation (IR), Lahore was given additional charge of Director (Regulations), DNFBPs, Lahore and Asim Iftikhar (IRS/BS-20) Director, Directorate of Intelligence and Investigation (IR), Karachi was given additional charge of the post of Director (Regulations), DNFBP.

Copyright Business Recorder, 2020