biometric Archives - Pkrevenue.com

FCCI Applauds FBR’s Exemption from Biometric Verification

October 30, 2024October 30, 2024Faisal Shahnawaz

Faisalabad, October 30, 2024 – The Faisalabad Chamber of Commerce & Industry (FCCI) welcomed the Federal Board of Revenue’s (FBR) recent decision to exempt old-age citizens and certain sales taxpayers from the requirement of biometric verification. This policy shift addresses long-standing concerns raised by the FCCI regarding the challenges some taxpayers face with biometric technology.

SBP Makes Biometric Verification Mandatory for All Branchless Banking Transactions

October 26, 2023October 26, 2023Shahnawaz Akhter

Karachi, October 26, 2023 – The State Bank of Pakistan (SBP) has taken a significant step to combat money laundering and terrorist financing by making biometric verification mandatory for all branchless banking (BB) transactions.

SBP’s instructions on pensioners biometric verification

January 7, 2022January 7, 2022Faisal Shahnawaz

KARACHI: The State Bank of Pakistan (SBP) on Friday issued instructions regarding biometric verification of pensioners. Prior to these instructions the SBP issued BC&CPD Circular Letter No. 01 dated February 01, 2021 and File Letter No. BC&CPD/O&SSD/BVS/5873 dated May 27, 2021 on the subject. The Finance Division issued a letter on December 08, 2021 on […]

NCCPL directs verification of stock investors through biometric

February 10, 2020February 28, 2021Mrs. Anjum Shahnawaz

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) has issued guidelines to register / verify all investors of stock market through biometric system. The NCCPL on Monday issued communication to Pakistan Stock Exchange (PSX) to direct all authorized intermediaries (AI) and clearing members to register existing customers in Centralized Know Your Customer (CKO). The NCCPL […]

Biometric verification of all saving scheme investors to be conducted under FATF recommendations

January 18, 2020June 5, 2022Mrs. Anjum Shahnawaz

ISLAMABAD: The government will conduct biometric verification of all investors of National Saving Schemes in order to make compliance with recommendations of Financial Action Task Force (FATF), a statement issued by Finance Division said on Saturday. Asia Pacific Group in its recently published Mutual Evaluation Report (MER 2019), has pointed out number of deficiencies on […]

SBP directs biometric verification of branchless banking accounts by March 31

December 31, 2019May 17, 2026Mrs. Anjum Shahnawaz

KARACHI: State Bank of Pakistan (SBP) has directed financial institutions to ensure biometric verification of branchless banking customers by March 31, 2020.

About 7.65 million bank accounts still require biometric verification for AML/CFT compliance

October 31, 2019July 15, 2024Mrs. Anjum Shahnawaz

KARACHI: Around 7.65 million bank accounts are still unverified till June 30, 2019. The verification of bank accounts is mandatory through biometric system in order to mitigate risks of money laundering and terror financing.

SBP facilitates overseas Pakistanis in biometric verification

October 24, 2019December 10, 2021Mrs. Anjum Shahnawaz

KARACHI: State Bank of Pakistan (SBP) has facilitated overseas Pakistanis in their biometric verification for operating bank accounts. In a statement on Thursday, the SBP said that realizing difficulties being faced by overseas Pakistan in operating their bank accounts due to non-biometric verification of their accounts, State Bank of Pakistan has issued detailed instructions on […]

SBP issues instructions for bank account biometric verification of Pakistanis living abroad

June 3, 2019March 30, 2021Faisal Shahnawaz

KARACHI: The State Bank of Pakistan (SBP) on Monday issued instructions for biometric verifications of bank account holders of Pakistanis living abroad. The banks are conducting biometric verification of existing customers in compliance of Anti Money Laundering/ Counter Finance Terrorism (CFT) Regimes. a. Non-resident Pakistanis (NRPs) as defined in Income Tax Ordinance, 2001 – Chapter […]

Tag: biometric