The Presidents/Chief Executives,

All Banks/DFIs

Dear Sir/Madam,

Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Regulations

Please refer to the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Regulations issued vide BPRD Circular No. 2 dated September 13, 2012.

2. Based on the feedback received from the Pakistan Banks Association/banks, the amendments as per attached Annexure are made in the aforesaid Regulations.
3. Moreover, the above changes are effective from the implementation date of ‘AML/CFT Regulations’ i.e. 31st October, 2012 and implementation deadline in respect of following areas of the subject Regulations is extended till September 30, 2013:
   • Review of banks’ internal Policies/Procedures & Compliance Programs; and
   • System enhancement for capturing originator information in case of online transactions or other new areas which can only be implemented through system enhancement.
4. All other instructions on the subject shall, however, remain unchanged.
5. Please acknowledge receipt.