The Federal Board of Revenue (FBR) has expanded and clarified its anti-money laundering (AML) and counter-terrorism financing rules for certain non-financial businesses, including gold and jewellery dealers, precious-stone businesses and real estate agents.
The changes were introduced through S.R.O. 1439(I)/2026 issued on August 27, 2026, amending the FBR’s AML/CFT Regulations for Designated Non-Financial Businesses and Professions (DNFBPs), 2020.
A major change is the replacement of the term “Jewellers” with “Dealers in Precious Metals and Dealers in Precious Stones (DPMS).”
Under the revised definition, DPMS includes bullion dealers and businesses selling jewellery, gold, platinum, diamonds, precious and semi-precious stones and pearls, including items mounted or set with such materials.
The existing Rs. 2 million cash transaction threshold remains unchanged. The rules apply where such businesses conduct a cash transaction with a customer worth Rs. 2 million or more.
This means the amendment mainly broadens and clarifies the category of businesses covered rather than increasing the existing cash threshold.
The FBR has also revised the definition of real estate agents. The updated definition expressly includes builders, real estate developers, title transferring authorities, property brokers and dealers involved in property purchases, sales or transfers.
The addition of title transferring authorities provides greater clarity on the entities covered by the AML/CFT framework.
The FBR has also tightened record-keeping requirements. Regulated businesses must retain records linked to transactions, customers or instruments involved in litigation until the case is resolved.
Where a court or competent authority requires the records, they must be retained until the matter is concluded or the authority confirms that further retention is no longer required.
Another amendment requires DNFBPs to promptly respond to requests from the FBR, designated law-enforcement agencies and the Financial Monitoring Unit (FMU) for Customer Due Diligence (CDD) information and transaction records under the Anti-Money Laundering Act.
The Customer Due Diligence provisions have also been aligned with the new DPMS terminology. The previous reference to “Jewelers and Dealers in precious metals and stones” has been revised to remove the separate “Jewelers” reference.
The FBR said the amendments update and clarify the existing AML/CFT framework rather than replace it.
For gold, jewellery and precious-stone businesses, the key point is that the Rs. 2 million cash transaction threshold remains in place, while the businesses covered by the rules are now defined more broadly under the DPMS category.
Real estate businesses will also need to take note of the expanded definition and strengthened requirements for maintaining and providing AML/CFT records.
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