The Federal Board of Revenue (FBR) has launched a digital system allowing banks to access the asset declarations of senior public office holders as part of Pakistan’s anti-money laundering (AML) and counter-financing of terrorism (CFT) reforms under the International Monetary Fund (IMF) programme.

Under the new mechanism, banks can verify the asset declarations of public office holders from BS-17 to BS-22 through a dedicated AML/CFT portal while conducting customer due diligence and regulatory compliance checks.

The initiative fulfills an IMF structural benchmark that requires the FBR to provide financial institutions with access to asset declaration records and regularly publish usage statistics to improve transparency and strengthen the country’s financial monitoring framework.

The FBR has also released the first set of portal usage data covering December 2025 to May 2026. During the six-month period, banks submitted 2,628 requests to access asset declarations. Of these, 2,205 requests were approved, while 423 were rejected or declined.

According to the tax authority, publishing these figures is intended to improve transparency and increase awareness among banks regarding the availability of the digital verification facility.

The FBR said the portal will help financial institutions strengthen customer due diligence, enhance compliance with AML/CFT regulations, and support Pakistan’s broader efforts to improve financial transparency and meet its international commitments.