FBR chief asks banks to collect details of benami accounts

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ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has asked all banks to collect details of ‘benami’ accounts under the Benami Transaction (Prohibition) Act 2017.
In a statement the FBR said that the chairman wrote a letter to the heads of the banks. “The board does not want to contact account holders directly “so that people’s trust in FBR can be maintained”.
According to the FBR, information provided regarding the benami accounts will be kept confidential.
“Under the Benami Transaction (Prohibition) Act 2017, [the] FBR is responsible for identifying benami accounts,” the statement read, adding: “If FBR and banks work together, better results can be achieved.”
The board noted the importance of the cooperation of banks and requested that they submit all information related to benami accounts to the FBR within 15 days.


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