This was a key hitch to the completion of only outstanding point out of a total 27-point action plan.... First, each developer and builder will have to check the buyer and seller name from the list of the United Nations containing names of 4, 500 proscribed persons.If the name of the buyer or seller is not on the list, there is no issue for carrying out transactions.... The buyer and seller would also submit a form about the actual beneficial owner of the property....

ISLAMABAD: The Fede-ral Board of Revenue 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. FBR chairman Dr Muhammad Ashfaq Ahmed held a meeting with representatives of real estate associations here on Sunday, and expressed the hope that they would continue to comply with the anti-money laundering( AML)