April 20, 2024

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Pakistan Revenue

Tag: AML

SECP proposes amendments to AML, CFT regulations to comply FATF recommendations
Jan 29
Stock & Commodity

SECP proposes amendments to AML, CFT regulations to comply FATF recommendations

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has proposed amendments to Anti Money Laundering and Countering Financing of Terrorism Regulations, 2018 as recommended by FATF. The SECP on Wednesday said that the amendments had been proposed to further strengthen SECP’s AML/CFT regime. The proposed amendments elaborate on the Risk Based Approach requiring regulated persons […]

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SBP issues procedure for opening bank accounts of politically exposed persons
Jul 17
Money & Banking

SBP issues procedure for opening bank accounts of politically exposed persons

KARACHI: State Bank of Pakistan (SBP) has issued procedure for opening bank accounts of Politically Exposed Persons (PEPs) and instructed banks to facilitate such persons without compromising due diligence process under anti-money laundering (AML) and counter financing of terrorism (CFT). The central bank on Wednesday said that in order to ensure fair and equitable treatment […]

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Prize bonds, bearer instruments to be registered
Jul 9
Finance, Taxation

Prize bonds, bearer instruments to be registered

KARACHI: Pakistani authorities have assured International Monetary Fund (IMF) of registering prize bonds and other bearer instruments to eliminate the use of these instruments in potential illegal activities and tax avoidance. The IMF issued Pakistan country report on Monday following successful $6 billion loan program. In order to make the program successful the Pakistani authorities […]

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SECP holds awareness session for NPOs on AML/CFT
Mar 30
Finance

SECP holds awareness session for NPOs on AML/CFT

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has conducted an awareness session on Anti-Money Laundering (AML)/Counter-Terrorism Financing (CFT) in collaboration with of Institute of Chartered Accountants of Pakistan (ICAP), a statement said on Friday. The SECP said that the awareness session was conducted AML/CFT obligations of non-profit organizations (NPOs) licensed under section 42 of […]

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