Govt begins regulating gold sale, purchase to comply with FATF recommendations

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ISLAMABAD (City News) – Government begins process of regulating all sale and purchases of gold across the country to comply with recommendations of Financial Action Task Force (FATF).

According to details, record of all transactions worth Rs2 million or more have to be maintained from now on and dealers will be required to provide details of CNIC of their customers.

Earlier, The Financial Action Task Force (FATF) has asked Pakistan to implement a new set of constraints in the country’s crackdown against terror financing, including documenting and regulating all gold markets (Sarafa Bazaars)

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