Further amendments in S.R.O 924(I)/2020 dated 29-09-2020

Government of Pakistan Revenue Division Federal Board of Revenue lslamabad, the 27th August, 2026 Notification S.R.O. 1439(1y2026.- ln exercise of powers conferred under section 6A of the Anti-Money Laundering Act, 2010 (Vll of 2010) read with sub-clause (iii) of clauses I Schedule lV to the said Act, the Federal Board of Revenue is pleased to make the following amendments in Federal Board of Revenue Anti Money Laundering and Countering Financing of Terrorism Regulations for DNFBPS, 2020, namely: - ln the aforesaid Regulations, - (i) in the preamble, for the word "Regulations", the word "regulations" shall be substitutedi (ii) in the aforesaid regulations, for the words 'Jewellers", wherever occurring, the words "DPMS" shall be substituted: (iii) in regulation '1, for sub-regulation (2), the following shall be substituted, namely: - "(2) These regulations shall apply to real estate agents, dealers in precious metals and dealers in precious stones and accountants.". (iv) in regulation 2, in regulation ('1), - (a) in clause (f), for the word "Jeweler', the expression "Dealers in Precious Metals and Dealers in Precrous Stones (SPMS)" shall be substituted (b) after clause (f), the following new clause shall be inserted, namely: - "(fa) "Dealers in precious metals and dealers rn precious stones (DPMS) includes a person who is a bullion dealer or engaged in sale of jewellery, precious stones and metals including all articles made wholly or mainly of gold, platinum, diamonds of all kinds, precious or semi-precious stones, pearls whether or not mounted, set or strung and articles set or mounted with diamonds, precious or semi-precious stones or pearls, when they engage in a cash transaction with a customer of a value equivalent to two Million rupees or more;". (c) clause (k) shall be omitted; (d) for clause (n), the following shall be substituted, namely: - "(n) "Real Estate Agent" includes builders, real estate developers, title

transferring authorities, property brokers and dealers when they execute a purchase and sale of real oroperty, participate in real estate transactions, or exercise professional transactional actrvit! for real prlDedy transfer:": anci "due diligence", the words "Due diligence" (e) in ciause (q), for the words shall be substituted; (v) in regulation 4. in sub-regulation (1), in clause (b), the word'Vvhat is" shall be omittedl (vi) in regulation 6, - (a) for sub-regulation (4). the foltowing shall be substiruted, namely. - "(4) "DNFBPs ai'e reouired to retain records pertainrng to transactions. customers, or instruments subject to litigation until the resolution of the case. ln instances rvhere such records are requested by a court of law or other competent authority, DNFBPS shall maintain retention until the litigation is concluded or until the court or competent authority provides notification that record retention is nc longer mandaled."; and (b) for sub-regulation (5), the following shall be substituted, namely: - "(5) The DNFBP shall promplly satisfy any inqurry or order from the board, designated lalv enforcement agencies, and FMU for the supply of CDD informatron and transaction records as per the relevant provisions of the AML Act. : and (vii) in regulation 8.- (a) in sub-regulation (1), in clause (b), the words "Jewellers and" shall be omitted; (b) in sub-regulation (6), in clause (a), for the words "the DNFBPs". the expression "DNFBPS"' shall be substituted; and (c) in sub-regulation ( 1 1), in clause (b), in sub-clause (iii), for the wor(i "Associations', the word "Association" shall be substituted. (15)R&S/2025] IF. No.1 (Muhammad Amin Qureshi) Secretary (Rules & SROs)