{"id":60129,"date":"2020-01-20T10:44:22","date_gmt":"2020-01-20T10:44:22","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=60129"},"modified":"2020-01-20T11:20:30","modified_gmt":"2020-01-20T11:20:30","slug":"govt-to-screen-investments-in-national-savings-schemes","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-to-screen-investments-in-national-savings-schemes.html","title":{"rendered":"Govt to screen investments in National Savings schemes"},"content":{"rendered":"\n<p>Islamabad: The federal government has announced its decision to screen over seven million individuals who have made investments worth PKR 4.038 trillion and more in the country&#8217;s National Savings schemes \u2014 for the purpose of preventing any ill-gotten funds from becoming part of the financial system, according to news sources.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/imf-sets-7-new-targets-for-the-third-quarter.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"IMF sets 7 new targets for the third quarter (opens in a new tab)\">IMF sets 7 new targets for the third quarter<\/a><\/p>\n\n\n\n<p>The\ndecision is in compliance with the recommendations made by the Financial Action\nTask Force (FATF). According to the recently published Mutual Evaluation Report\n(by the Asia Pacific Group), there are a number of deficiencies made by the Central\nDirectorate of National Savings (CDNS)\u2019s, which are adversely affecting the\noverall grading of various recommendations. <\/p>\n\n\n\n<p>The FATF has already given a February 2020 deadline for Pakistan to remain on the grey list (subject to the implementation of its recommendations) and has now asked the government to identify the owners of suspected investments in the <a href=\"https:\/\/www.zameen.com\/news\/national-saving-schemes-rates-raised-by-2-3.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"National Savings (opens in a new tab)\">National Savings<\/a> schemes.<\/p>\n\n\n\n<p> <strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/prize-bonds-to-be-converted-into-registered-instruments.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Prize bonds to be converted into registered instruments (opens in a new tab)\">Prize bonds to be converted into registered instruments<\/a><\/p>\n\n\n\n<p>The Finance division (through the promulgation of the National Savings Schemes (AML-CFT) Rules, 2019) will engage an AML-CFT compliant bank (after competitive bidding), for necessary personnel trainings and requirements implementation. For this purpose, Expression of Interest (EoI) has been sought from interested banks to supervise Know Your Customer (KYC) and other requirements of new and existing CDNS clients.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The federal government has announced its decision to screen over seven million individuals who have made investments worth PKR 4.038 trillion and more in the country&#8217;s National Savings schemes \u2014 for the purpose of preventing any ill-gotten funds from becoming part of the financial system, according to news sources. Read: IMF sets 7 new targets for the third quarter The decision is in compliance with the recommendations made by the Financial Action Task Force (FATF). According to the recently published Mutual Evaluation Report (by the Asia Pacific Group), there are a number of deficiencies made by the Central Directorate of National Savings (CDNS)\u2019s, which are adversely affecting the overall grading of various recommendations. The FATF has already given a February 2020 deadline for Pakistan to remain on the grey list (subject to the implementation of its recommendations) and has now asked the government to identify the owners of suspected investments in the National Savings schemes. Read: Prize bonds to be converted into registered instruments The Finance division (through the promulgation of the National Savings Schemes (AML-CFT) Rules, 2019) will engage an AML-CFT compliant bank (after competitive bidding), for necessary personnel trainings and requirements implementation. For this purpose, Expression of&hellip;<\/p>\n","protected":false},"author":75,"featured_media":34938,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[15149,15147,15150,15148],"persona":[],"class_list":{"0":"post-60129","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-cdns","9":"tag-details-on-govt-to-screen-investments-in-national-savings-schemes","10":"tag-fatf","11":"tag-national-savings","12":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt to screen investments in National Savings\u2019 schemes Zameen News<\/title>\n<meta name=\"description\" content=\"The government will screen 7+ million individuals who have made investments worth PKR 4.038 trillion and more in the country&#039;s National Savings schemes\" \/>\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\/govt-to-screen-investments-in-national-savings-schemes.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt to screen investments in National Savings\u2019 schemes Zameen News\" \/>\n<meta property=\"og:description\" content=\"The government will screen 7+ million individuals who have made investments worth PKR 4.038 trillion and more in the country&#039;s National Savings schemes\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-to-screen-investments-in-national-savings-schemes.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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Pakistan Property News &amp; Latest Updates - Zameen News","article_publisher":"https:\/\/www.facebook.com\/ZameenPK","article_published_time":"2020-01-20T10:44:22+00:00","article_modified_time":"2020-01-20T11:20:30+00:00","og_image":[{"width":600,"height":350,"url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2018\/02\/goP.png","type":"image\/png"}],"author":"Hazafa Hasan","twitter_card":"summary_large_image","twitter_creator":"@ZameenProperty","twitter_site":"@ZameenProperty","twitter_misc":{"Written by":"Hazafa Hasan","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.zameen.com\/news\/govt-to-screen-investments-in-national-savings-schemes.html#article","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/govt-to-screen-investments-in-national-savings-schemes.html"},"author":{"name":"Hazafa Hasan","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/422fcc128fcaf82dae8406d1cf62a52b"},"headline":"Govt to screen investments in National Savings schemes","datePublished":"2020-01-20T10:44:22+00:00","dateModified":"2020-01-20T11:20:30+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zameen.com\/news\/govt-to-screen-investments-in-national-savings-schemes.html"},"wordCount":228,"publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"image":{"@id":"https:\/\/www.zameen.com\/news\/govt-to-screen-investments-in-national-savings-schemes.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2018\/02\/goP.png","keywords":["CDNS","details on Govt to screen investments in National Savings\u2019 schemes","FATF","National Savings"],"articleSection":["Legal &amp; 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