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FATF wants all dollar, euro transactions above $3,000 to be documented

The team wants the government to maintain records of all transactions, even ones not done through banks

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Holiday: Banks to remain closed on Jan 1st

ISLAMABAD: The State Bank of Pakistan (SBP) will observe January 1, 2018 as bank holiday and it will remain closed for public dealing on Monday next. All banks, Development Finance Institutions (DFIs), and Microfinance Banks (MBFs) shall, therefore, remain closed for public dealing on the above date. However, all employees of banks, DFIs, and MFBs…

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Traders announce countrywide strike next month

ISLAMABAD: A representative body of the traders on Monday announced a countrywide shutter down next month if the federal government did not withdraw withholding tax on banking transactions. Addressing a press conference here, President Anjuman-e-Tajiran Khalid Pervaiz rejected 0.3 percent withholding tax on banking transactions. “We will have a countrywide shut down on August 5,”…

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