Islamabad: According to news reports, Chairman of the Federal Board of Revenue (FBR) Dr Muhammad Ashfaq Ahmed met with representatives of real estate associations on Sunday (September 05) to ask them to cooperate with the government in order to be removed from the Financial Action Task Force (FATF)’s list.

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The chairman announced that, in order to improve openness, the department will shortly issue revised and easier versions of Customer Due Diligence (CDD) forms in Urdu and English. Furthermore, the new updated CDD will include fewer questions to make it easier to comprehend for realtors.

In addition, FBR staff will teach and help real estate agents who are registered under the Non-Financial Businesses and Professions (DNFBPs) to complete the paperwork.

The news comes after the government registered over 22,000 real estate agents across the country with the DNFBP to ensure that anti-money laundering (AML) and counter-terrorist financing (CFT) rules and regulations are enforced in accordance with FATF standards.

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The conference was attended by Mohammad Iqbal, FBR Director General Non-Financial Businesses and Professions (DNFPs), as well as Ejaz Khan and Sardar Tahir, chairman and president of the Federation of Realtors Pakistan, and office bearers from real estate groups from throughout the country.

Stay tuned with Tajarat Property for more updates or information about the top-notch real estate projects like Blue World City or Blue World City Islamabad.