Chairman FBR Syed Muhammad Shabbar Zaidi has requested all the Heads of Banks to provide information to FBR relating to Benami Accounts within fortnight.
Chairman FBR in his letter has recalled the earlier meeting held with Chief Financial Officers of all Banks wherein it was agreed that all the banks will internally make an exercise seeking information from their account holders about the ‘Mandated’ or ‘Benami Accounts’ holders within their system. Chairman FBR hoped that requisite steps would have been taken by the banks to gather such information.
Chairman has added that FBR is mandated to take action against Benami Accounts under the Benami Transaction (Prohibition) Ordinance, 2017. Chairman FBR has requested the banks to share with FBR all the gathered information in this regard, which shall be kept highly confidential. FBR has legal obligation under the aforesaid law to identify such assets. In his letter, Chairman FBR has stated that the best approach in this regard is mutual cooperation, voluntary compliance and close coordination between banks and FBR.