{"id":56956,"date":"2019-10-29T16:40:03","date_gmt":"2019-10-29T11:40:03","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=56956"},"modified":"2019-10-29T16:40:03","modified_gmt":"2019-10-29T11:40:03","slug":"fbr-chairman-sends-another-letter-to-banks-for-account-details","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-chairman-sends-another-letter-to-banks-for-account-details.html","title":{"rendered":"FBR Chairman sends another letter to banks for account details"},"content":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has written another letter to the banks asking them to provide the details of bank accounts in order to ensure compliance with FATF requirements \u2013 a news source reported.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-gets-details-of-50000-foreign-bank-accounts.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR gets details of 50,000 foreign bank accounts<\/a><\/p>\n<p>The letter states that all banks in Pakistan may engage in \u2018Trust Activities\u2019 under which they hold assets on behalf of individuals, trusts, retirement benefit funds and other institutions. However, the assets acquired through this method do not appear in the financial statements of the banks. This is despite the fact that the relevant \u2018Off Balance Sheet\u2019 details are reflected in the financial statements.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/banks-told-to-share-benami-accounts-data-within-15-days.html\" target=\"_blank\" rel=\"noopener noreferrer\">Banks told to share benami accounts data within 15 days<\/a><\/p>\n<p>The letter further explained that it is imperative that FBR should have the appropriate <a href=\"https:\/\/www.zameen.com\/news\/fbr-to-obtain-data-on-bank-accounts.html\" target=\"_blank\" rel=\"noopener noreferrer\">details regarding such transactions<\/a> in order to comply with various national and international requirements, including those set by the FATF. These details must include the identification of the people on behalf of whom such activities take place.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has written another letter to the banks asking them to provide the details of bank accounts in order to ensure compliance with FATF requirements \u2013 a news source reported. Read:\u00a0FBR gets details of 50,000 foreign bank accounts The letter states that all banks in Pakistan may engage in \u2018Trust Activities\u2019 under which they hold assets on behalf of individuals, trusts, retirement benefit funds and other institutions. However, the assets acquired through this method do not appear in the financial statements of the banks. This is despite the fact that the relevant \u2018Off Balance Sheet\u2019 details are reflected in the financial statements. Read:\u00a0Banks told to share benami accounts data within 15 days The letter further explained that it is imperative that FBR should have the appropriate details regarding such transactions in order to comply with various national and international requirements, including those set by the FATF. These details must include the identification of the people on behalf of whom such activities take place.<\/p>\n","protected":false},"author":57,"featured_media":52219,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[13662],"persona":[],"class_list":{"0":"post-56956","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-fbr-chairman-sends-another-letter-to-banks-for-account-details"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR Chairman sends another letter to banks for account details - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has written another letter to the banks asking them to provide the details of bank\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-chairman-sends-another-letter-to-banks-for-account-details.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR Chairman sends another letter to banks for account details - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has written another letter to the banks asking them to provide the details of bank\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-chairman-sends-another-letter-to-banks-for-account-details.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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