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Tag: NADRA

  • State Bank launches easy mobile phone account

    State Bank launches easy mobile phone account

    KARACHI: The State Bank of Pakistan (SBP) on Sunday said it is launching a new initiative of Asaan (easy) Mobile Account (AMA) on Monday, December 13, 2021.

    The central bank in a statement said that the initiative was developed under the National Financial Inclusion Strategy with the objective to bring further ease in remote account opening under branchless banking.

    This means that the customers would be able to open and operate their accounts in the comfort of their homes, without having to visit the branches, with any of the participating branchless banking providers.

    The solution has been developed through a collaboration of SBP, Pakistan Telecommunication Authority (PTA), National Database and Registration Authority (NADRA), 13 Branchless Banking (BB) Providers, all Cellular Mobile Operators (CMOs) and Virtual Remittance Gateway (VRG). ForAMA, the branchless banking providers and cellular mobile operators are collaborating to deliver an interoperable platform, allowing any Pakistani to open account with a bank.

    AMA will play a crucial role in reaching out to the low-income segments that do not have access to internet. Moreover, AMA will be a perfect conduit to onboard women customer segments as well.

    SBP directs biometric verification of branchless banking accounts by March 31
  • PM Imran launches automation of power of attorney

    PM Imran launches automation of power of attorney

    ISLAMABAD: Prime Minister Imran Khan on Thursday launched the automation of power of attorney for overseas Pakistanis at a ceremony held at Prime Minister House.

    The Prime Minister said that it was a historic day for overseas Pakistanis as the digitalization of Power of Attorney will facilitate around 75,000 overseas Pakistanis annually.

    While stressing the need for digitalization, he said that technology helps in the simplification of procedures and the government was taking all possible measures for digitalization of various sectors.

    The issuance of the Succession Certificate by NADRA was also a step in this direction. The Prime Minister added that Overseas Pakistanis were an asset to the country.

    They were the largest source of foreign remittances and their services must be recognized. The Prime Minister stressed that Overseas Pakistanis needed to be facilitated by all possible means.

    Foreign Minister Shah Mahmood Qureshi, Foreign Secretary Sohail Mahmood, and Chairman NADRA Muhammad Tariq Malik were also present.

    The Foreign Minister, in his remarks on the occasion, congratulated the teams of the Ministry of Foreign Affairs as well as NADRA for making the project a success.

    He highlighted that this project involved extensive legislative and technological work and was completed in a very short span of time.

    Qureshi reiterated that the government attached utmost importance to the welfare of overseas Pakistanis under the guidance of the prime minister.

    He stated that the welfare of the Pakistani community was one of the major functions of our Missions abroad along with economic diplomacy.

    During the ceremony, an agreement was signed between the Ministry of Foreign Affairs and NADRA, under which NADRA will provide 24/7 uninterrupted online services for attestation of Power of Attorney.

    Automation of attestation of Power of Attorney has been a longstanding demand of the Overseas Pakistanis and will facilitate those who have to travel long distances from different cities and far-off places to the Missions.

    This automated system will reduce costs and minimize hassle by providing attestation services at the doorsteps.

    The automation of Power of Attorney has been initially launched as a pilot project in ten Pakistan Missions/Sub-Missions in the United States and the United Kingdom and will be replicated shortly at all Pakistan Missions Abroad.

  • Exchange companies asked to deploy BVS from Nov 6

    Exchange companies asked to deploy BVS from Nov 6

    KARACHI: The exchange companies are required to deploy biometric verification system (BVS) for transactions of foreign currencies from November 6, 2021.

    “All exchange companies are advised to deploy BVS as provided by NADRA at their outlets for biometric verification after November 05, 2021,” the State Bank of Pakistan (SBP) said in a communication on Thursday.

    The SBP said that exchange companies were required to implement the BVS latest by October 22, 2021. Towards this, State Bank had requested National Database Registration Authority (NADRA) to facilitate the exchange companies in the implementation of BVS.

    “However, given the technical challenges currently faced by the exchange companies (EC Sector), NADRA proposed to offer an android based BVS for exchange companies.”

    The State Bank on request of the Exchange Companies Association of Pakistan (ECAP) allowed the exchange companies to accommodate its customers by using the services of another facility of NADRA named e-Sahulat till the implementation of android based BVS i.e. November 05, 2021.

    The SBP said that it forwarded the technical requirements, received from NADRA, to exchange companies with an objective to ensure implementation of BVS with the given timelines. The SBP further stated that any technical and financial matter related to implementation of BVS is the sole discretion of NADRA and respective exchange companies. “Therefore, ECAP or individual exchange company may like to approach NADRA directly for any technical / financial issues, regarding implementation and procurement of systems, devices etc.”

    The SBP advised all exchange companies to deploy BVS as provided by NADRA at their outlets for biometric verification after November 05, 2021. However, any relaxation / extension in the timeline shall only be allowed to the companies that will approach the SBP with genuine reasons along with an explicit time bound implementation plan.”

    The SBP said NADRA has informed that the android-based BVS could also be integrated with the core business application of the exchange companies. “Therefore, all exchange companies are required to continue their coordination with NADRA to ensure that the integrated system is implemented within the stipulated timeline of June 30, 2022,” the SBP added.

    SBP makes biometric mandatory for forex transactions
  • NADRA’s computation to be treated as assessment: FBR

    NADRA’s computation to be treated as assessment: FBR

    ISLAMABAD: Federal Board of Revenue (FBR) has said that computation of income and assets prepared by the National Database Registration Authority (NADRA) shall be treated as assessment.

    The FBR in explanation to Tax Laws (Third Amendment) Ordinance, 2021 said that a new section 175B has been inserted in the Income Tax Ordinance, 2001 aiming to broaden the tax base through collaboration between NADRA and FBR.

    Sub-section (1) of section 175B mandates NADRA to share its records or any other information available or held by it, on its own motion or upon application by the Board.

    Sub-section (2) thereof allows NADRA to compute indicative income and tax liability on the basis of various expenses, receipts, assets, properties and liabilities etc. using artificial intelligence, mathematical or statistical modeling or any modern methods.

    The FBR may forward such information to the concerned tax authorities having jurisdiction in connection to the subject matter relating to the information, who may utilize the information for the purpose of levy of tax.

    The indicative income and tax liability shall be communicated to the person to whom it relates. Such person shall have the option to pay tax as prescribed. In case of failure to pay such liability within stipulated

    timeframe, the tax authority shall take action under the provisions of the Ordinance on the basis of the Indicative Income so computed.

    If the person against whom the liability has been determined under sub-section (4) of the newly inserted section pays such liability, such payment shall be construed to be an amended assessment order under section 120 or 122(1) or 122(4) as the case may be.

    Board is also vested with the powers to make rules for the purposes of subsections (4) and (5) to prescribe the extent of installments, and any relief regarding the penalty and default surcharge, and time limits.

    To provide an enabling environment for the joint mechanism the restrictions on provision of information in terms of section 198 have been done away with and the said section is now omitted.

    FBR not to ask source of remittances sent through ECs
  • NADRA to compute indicative income, tax liability

    NADRA to compute indicative income, tax liability

    ISLAMABAD: National Database and Registration Authority (NADRA) has been empowered to compute indicative income and tax liability of persons using artificial intelligence and other modes.

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  • Biometric verification for PSW inaugurated at KCAA

    Biometric verification for PSW inaugurated at KCAA

    The introduction of biometric verification for registration on the PSW portal marks a significant milestone in streamlining customs procedures and improving the overall experience for traders.

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  • Karachi Chamber connects with Pakistan Single Window

    Karachi Chamber connects with Pakistan Single Window

    The Karachi Chamber of Commerce and Industry (KCCI) has become the first chamber in the country to launch NADRA e-Sahulat for the Pakistan Single Window (PSW) portal.

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  • New initiatives to facilitate digital financial products

    New initiatives to facilitate digital financial products

    New initiatives to facilitate digital financial products have been unveiled by the State Bank of Pakistan (SBP) to boost digitalization.

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  • Pakistan stops manual processing of visa applications

    Pakistan stops manual processing of visa applications

    ISLAMABAD: The government of Pakistan has decided to stop manual processing of visa cases from January 01, 2021, a statement said on Tuesday.

    Therefore, all visa applications are required to be processed through online visa portal only at the following web address: www.visa.nadra.gov.pk

    The High of Commission of Pakistan, London and Consulates General of Pakistan in Birmingham, Bradford, Glasgow and Manchester will not entertain any manual visa application from February 01, 2021, it added.

  • FBR connects with NADRA system to identify potential taxpayers

    FBR connects with NADRA system to identify potential taxpayers

    ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday signed a Memorandum of Understanding (MoU) with National Database Regulatory Authority (NADRA) to verify persons’ identity directly.

    A statement issued by the FBR said that on the directives of the Prime Minister to facilitate taxpayers the MoU had been signed to directly verify CNIC and other relevant documents.

    A FBR spokesman said that the connectivity would facilitate taxpayers as this would automatically feed tax refund data into withholding statements and tax returns.

    Further, it will reduce timing to comply with relevant laws, the spokesman added.

    The FBR hoped that this connectivity would also help the tax authorities to connect with other organizations.

    The connectivity with NADRA will help the FBR to identify such individuals who are out of tax net and concealing their incomes and assets, the spokesman said.