Page 48 - NIBAF-Training Matters July - December 2022
P. 48

Senior  Audit  &  Finance  Officers,   the  data  is  also  used  statistical   schedules   for   visible/invisible
           team from Branch Banking Audits,   analysis   to   support   polices   receipts   and   payments,   ,
           Internal   Audit   &   Compliance   formulation  and  implementation   segregation  of  purpose  codes  for
           professionals  from  SBP,  banks,   Hence,  data  quality  and  accuracy   Roshan  Digital  Account,  Foreign
           MFBs,   MFIs   and   Exchange      in reporting and classification hold   Direct/Portfolio   Investment,
           Companies  attended  the  sessions   utmost importance for SBP. Hence,   Repatriation,  Foreign  Currency
           and  appreciated  the  tools  and   SBP  has  instructed  all  Authorized   Accounts,  Worker’s  Remittances
           techniques  discussed  by  the     Dealers  to  take  utmost  care  in   and  services,  new  purpose  codes
           trainer.                           compilation  of  returns/statements   for  Non-Resident  Value  Account
                                              and  also  ensure  that  foreign    and   Foreign   Currency   Value
           Purpose-Coding System in           exchange   data   reported   in     Account - , Harmonized commodity
                                                                                                  Exports
           Foreign Exchange Returns           ITRS/DAP  is  accurate,  complete   classification  in   of   goods   and
                                              and  as  per  the  prescribed  format
                                                                                                           and
                                                                                  Imports
                      (ITRS)                  with regulatory action in cases of of   exercises/case   studies   for
           International     Transactions     misreporting/non-reporting.   In    identification   of   appropriate
           Reporting System (ITRS) of banks   order  to  minimize  misreporting  of   purpose code of foreign exchange
           is  the  main  data  source  used  by   regulatory   data,   NIBAF-Quetta   transactions in different scenarios.
           Core Statistics Department, SBP to   organized  an  online  session  for
           compile  Pakistan’s  Balance  of   reporting/foreign exchange officers
           Payments (BOP) Statistics. In order   of banks on the subject on Dec 23,
           to  ensure  accurate  and  maximum   2022. Mr.Ghazanfar Aatzaz Amjad,
           possible   coverage   of   the     Deputy  Director,  Core  Statistics
           transactions  of  residents  with  rest   Department,  SBP    delivered  the
           of  the  world  (ROW),  all  foreign   session highlighting importance of
           exchange    transactions   are     ITRS  data  and  further  elaborating
           captured  through  ITRS.  Besides   its structure, FER code guide, Code
           the  compilation  of  BOP  statistics,   lists  and  Coding  system  of

                      Awareness sessions on Money Laundering & Terrorist Financing for
                                  Universities in the Makran Region-Balochistan

             Since  Money  Laundering  &  Terrorist  Financing  is  an  area  of
             national  significance,  awareness  sessions  on  the  topic  were
             organized for university students and faculty to sensitize them in
             the area. Three two-hour sessions were organized at University of
             Gwadar, University of Makran-Panjgur and University of Turbat on
                     th
                 th
             the 7 , 11  and 16  of November-2022, respectively. Mr. Naveed
                             th
             Elahi Malik, Ex-banker and Nab official delivered the session in a
             simplified  manner  utilizing  a question-oriented presentation  and
             discussion  to  ensure  understanding  by  all  participants.  Key
             questions discussed included: i) What is “Money Laundering” and
             Terrorist Financing & why is it an issue of national significance?
              iii) What are the ML/CFT risk prone institutions and channels and what is the role of the banks iv)) What is SBP’s
              Role in AML/CFT v) What other institutions are susceptible to risks from ML/TF vi) What is the role of other financial
              institutions and regulators vii) How is the AML/CFT risk being controlled by all parties involved? The question-
              oriented mode of delivery made the session very interactive with many questions asked by the students. The
              sessions were attended by 198 students and 7 faculty members.
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