Tag: real estate agents

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FMU prepares red flags for real estate agents to report suspicious transactions

Mrs. Anjum Shahnawaz

KARACHI: Financial Monitoring Unit (FMU) has prepared red flags indicators for real estate agents to report suspicious transactions related sales and purchase of immovable properties for prevent money laundering and terror financing. According to the FMU, Under Section 7(1) of Anti-Money Laundering (AML) Act 2010 which states that reporting entities including Real Estate Agents, property […]

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FBR sets up body to regulate jewelers, real estate agents

Mrs. Anjum Shahnawaz

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday approved a body to regulate transactions by jewelers, real estate agents and accountants under anti-money laundering (AML)/Counter Financing of Terrorism (CFT) laws. According to an office order, the FBR approved the operationalization of Directorate General of Designated Non-Financial Business and Professions (DNFBPs), with its headquarter at Islamabad […]

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Jewelers, real estate agents to maintain register, report suspicious transactions: draft rules issued

Mrs. Anjum Shahnawaz

ISLAMABAD: Federal Board of Revenue (FBR) has proposed to make mandatory for jewelers and real estate agents to report suspicious transactions. In this regard the FBR issued draft rules through SRO 1320(I)/2019 to make amendments in Income Tax Rules, 2002. As per the draft rules, the designated persons as jewelers and real estate agents should […]

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