ISLAMABAD (Eshfak Mughal) :- The Government has decided to ban on convicted persons of criminal offence for holding ownership or positioning in the companies of real estate developers, law firms, accounting firms and dealers of precious metals who have been convicted of criminal to comply the Financial Action Task Force (FATF) condition.
The real estate developers and agents, dealers of precious stones, law firms, accounting firms, audit firms or insolvency firms and company service providers are fall in the category of the DNFBP, under the FATF.

Pakistan deals with the DNFBP through the Anti-Money Laundering and Countering Financing of Terrorism Regulations in the country.

In this regarding, the Federal Board of Revenue has decided to closely monitor any changes in ownership and positioning in the structures of DNFBP and order them to inform the FBR about any changes to make sure so that any convicted person could not enter in DNFBP.
The FBR has issued a notification in this regard on Tuesday. The notification says that “every DNFBP shall ensure that it has measures in place to prevent any person who has been convicted of a criminal offence or any associate of such a person from holding any ownership or controlling interest in the DNFBP, being the beneficial owner of the DNFBP and holding any senior management or board position in the DNFBP.
The notification also further says that “every DNFBP shall notify the FBR when there is a change in any ownership or controlling interest in the DNFBP, any beneficial owner of the DNFBP and any senior management or board position in the DNFBP”.
Earlier, The Government has also banned on the convicted persons to become shipping agent. It seems that Government are tightening the screw of convicted persons and closing doors for them to obtain any position of decision making and their execution.

By adminmy

Leave a Reply

Your email address will not be published.