PRF participated in Bahria Town awareness seminar on FATF Regulation and Registration

ISLAMABAD, SEPT 18:  Bahria Town Management and AAA Associates hosted a seminar on “awareness of FATF regulations and registration”. The event was organized at Pearl Continent, Rawalpindi. The honorable chief guests on this auspicious occasion were Directors HQ Designated Non-Financial Businesses and Professions Nasir Ahmed, and Zafar Iqbal, President Pakistan Realtor Federation Sardar Tahir and Chairman Realtor Federation Musarat Ejaz Khan.

Pakistan has been on the FATF’s grey list for strategic deficiencies in its counter-terror financing, anti-money laundering and proliferation financing rules since June 2018. The Designated Non-Financial Businesses and Professions has sought cooperation of real estate associations all over the country to meet requirements of the Financial Action Task Force (FATF) in relation to non-financial businesses and professions to combat money laundering and financing of terrorism. The seminar aimed to assist Estate builders regarding the new regulations and hoped that Estate Builders would continue to comply with the anti-money laundering (AML) and counter-terrorist financing (CFT) laws and regulations.

The guest speakers Directors HQ Designated Non-Financial Businesses and Professions Nasir Ahmed and Zafar Iqbal apprised members of real estate associations about the FATF’s requirements in relation to DNFBPs and called for collective efforts of the government and real estate agents to combat money laundering and financing of terrorism.

Ejaz Khan and Sardar Tahir, Chairman and President of the Federation of Realtors Pakistan, and office bearers of Real Estate Associations partook in the seminar and assured the builders about the positive aspects of these regulations.

In this seminar various estate builders from twin cities of Islamabad and rawalpindi participated. The sole purpose of the event was to address challenges pertaining to construction industry amid FATF crises.The seminar was followed by delightful dinner.

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