FBR Grants Banks Access to Officials’ Asset Declarations

The Federal Board of Revenue (FBR) has introduced a dedicated digital portal enabling banks to access asset declarations of public office holders serving in grades BS-17 to BS-22 for Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) compliance purposes.

According to information issued by the FBR’s Taxpayer Services Wing, the initiative forms part of Pakistan’s reform commitments under the International Monetary Fund (IMF) programme and is intended to strengthen the country’s financial transparency and regulatory oversight framework.

Under the new mechanism, banks will be permitted to access the asset declarations of senior public officials through the dedicated portal solely for AML/CFT-related due diligence and compliance requirements.

The FBR has also decided to publish statistical information regarding banks’ use of the portal on its official website as part of measures to improve transparency and enhance awareness of the facility among financial institutions.

According to the tax authority, this reporting requirement stems from paragraph 38(f) of the IMF structural benchmark, which requires Pakistan to facilitate banks’ access to asset declarations for AML/CFT purposes while also publicly disclosing statistics relating to the utilisation of the system.

The information published on the FBR’s website will include the total number of applications submitted by banks seeking access to asset declarations, together with the status of each request, including approvals and rejections.

Official data released by the FBR shows that between December 2025 and May 2026, banks submitted a total of 2,628 applications requesting access to the asset declarations of public servants serving in BS-17 and above.

Out of these applications, 2,205 requests were approved, while 423 applications were rejected or declined in accordance with the applicable verification and eligibility requirements.

The initiative forms part of Pakistan’s broader financial sector reforms aimed at strengthening its Anti-Money Laundering and Counter Financing of Terrorism regime, enhancing transparency in financial transactions involving politically exposed persons and senior public officials, and ensuring continued compliance with international regulatory standards and IMF commitments.