Gold Dealers in Pakistan Now Face Tougher FBR Money Laundering Law

In practice, 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.

Key points

• Tax Lawyers Urge FBR to Fix IRIS With Filing Deadline Just Weeks Away.
• A major change is the replacement of the term "Jewellers" with "Dealers in Precious Metals and Dealers in Precious Stones (DPMS)."
• Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
• Add as a preferredSource on Google Follow on Google News Join WhatsApp.
• The Customer Due Diligence provisions have additionally been aligned with the new DPMS terminology.

For context, 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.

Notably, 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.

Notably, 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.

For context, the FBR has additionally 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.

In practice, the addition of title transferring authorities provides greater clarity on the entities covered by the AML/CFT framework.

Meanwhile, the FBR has additionally 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.

Meanwhile, the Customer Due Diligence provisions have additionally 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.

In practice, the FBR remarked the amendments update and clarify the existing AML/CFT framework rather than replace it. Federal Govt Raises Minimum Salary for Employees.

For gold, jewellery and precious-stone businesses, the key point is that the Rs. While the businesses covered by the rules are now defined more broadly under the DPMS category, 2 million cash transaction threshold remains in place.

Real estate businesses will additionally need to take note of the expanded definition and strengthened requirements for maintaining and providing AML/CFT records. Stay Connected with ProPakistani.

Obtain the latest business news, market insights, and economic updates wherever you prefer. Follow on Google Discover.

For now, gold Dealers in Pakistan Now Face Tougher FBR Money Laundering Law remains the part of the story worth watching, and further updates are likely as more details are confirmed.