Islamabad, November 28, 2025 – The Federal Board of Revenue (FBR) has notified updated rules regarding asset declarations by public servants, aiming to improve transparency and ensure proper sharing of financial information between government bodies and banks.
Under the Declaration of Assets of Civil Servants Rules, 2023, officers of the federal and provincial governments, autonomous bodies, corporations, and government-owned companies are included in the definition of a public servant. The rules specifically apply to civil servants in pay grades 17 and above, governed by the Civil Servants Act, 1973, with certain exemptions under the National Accountability Ordinance, 1999.
The FBR issued SRO 2263(I)/2025, amending the existing rules to allow sharing of asset declaration information between the FBR and banks. Banks will receive a simplified or abridged version of a civil servant’s electronic declaration filed with the FBR.
To ensure security and accountability, banks must use a pre-notified, secured email address under the control of the bank’s head of compliance. Each bank must designate up to four focal persons authorized to communicate with the FBR, and any changes to credentials must be promptly reported.
The FBR commits to providing the requested information within five working days or may refuse if data is unavailable. In case of disputes, the FBR’s decision will prevail as the custodian of the information.
Banks are also required to submit bi-annual feedback on how the information has been used, including details on the success of new accounts and client relationship management. Feedback deadlines are set for 31st January and 31st July each year, covering the preceding six months.
Additionally, the FBR has established a dedicated CDD desk with an authorized officer and designated officials to handle bank requests efficiently, strengthening compliance and transparency in the financial system.