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An important meeting was held with representatives of the Federal Board of Revenue (FBR) under the chairmanship of Member Finance, Karachi Develop
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A grand felicitation ceremony was organized by Director General Karachi Development Authority Asif Jan Siddiqui at the Civic Center on the occasion
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Director General Karachi Development Authority Asif Jan Siddiqui paid a detailed visit to Surjani Township and inspected the ongoing developmen
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The KDA Employees Union (CBA) met with Director General Karachi Development Authority Asif Jan Siddiqui at the Civic Center and thanked him. On this
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Sindh Local Government Minister Syed Nasir Hussain Shah chaired the 1199th Governing Body meeting of the Karachi Development Authority at the C
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Important meeting with FBR representatives regarding DNFBPs AML/CFT compliance
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08-Apr-2026
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An important meeting was held with representatives of the Federal Board of Revenue (FBR) under the chairmanship of Member Finance, Karachi Development Authority, Mr. Naveed Anwar Siddiqui, with the aim of aligning the relevant departments of Karachi Development Authority with the AML/CFT compliance framework implemented under Designated Non-Financial Businesses and Professions (DNFBPs). The meeting was attended by Mr. Naveed Ali (Deputy Director, DNFBPs), Muhammad Talha Iqbal (Inspector, DNFBPs) and Muhammad Hammad Kamboh (Admin Officer, DNFBPs). While, from Karachi Development Authority, Secretary KDA Arshad Khan, Chief Engineer Abdul Samad Jamlani, Director Land Management Atif Hussain Naqvi, Director Estate and Enforcement Irfan Yousafzai, Director Finance and Accounts Nadeem Shabbir, Director DPUD Shahab Mangi, Deputy Director Admin (IT Department) Aziz Abbasi, Additional Director Admin Land Management Rashid Hussain and Additional Director Recovery Arif Shah and other officers attended. During the meeting, FBR representatives gave a detailed briefing on the Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) laws, rules and regulations and regulatory responsibilities applicable under DNFBPs. The presentation particularly highlighted the following issues: Status and application of DNFBPs in the real estate sector
The importance of Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)
Identification and verification of beneficial ownership
Timely reporting of suspicious transactions (STRs)
Record keeping and risk-based approach
Targeted Financial Sanctions (TFS) are included. Furthermore, while reviewing the current working of the Land, Estate and Recovery Departments of Karachi Development Authority, practical suggestions were presented to align them with the AML/CFT framework of the FBR, so as to ensure transparency, accountability and effective monitoring. On this occasion, Member Finance Naveed Anwar Siddiqui said that all possible steps would be taken to make financial and property-related transactions in Karachi Development Authority transparent and effective as per AML/CFT requirements. He expressed his determination that the institution’s system would be adapted to national and international standards through close cooperation with the FBR. He further directed that all relevant departments should immediately understand their responsibilities under the DNFBPs and ensure their implementation so that any kind of money laundering or terrorist financing risks could be effectively prevented.
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