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Government decides to eliminate anonymous companies in corporate sector


Mar 14, 2020

Islamabad: Pakistan fulfills another demand of Financial Action Task Force The government has decided to eliminate anonymous companies in the corporate sector.

According to a statement issued by the Security and Exchanges Commission Pakistan at the SECP Board Meeting: Amendments were approved in the CompanySec, Limited Liability Act 2017. These amendments are aimed at clearing companies from money laundering and terror funding. Under the amendments 25% of the shareholders will be reached through the original ownership of the companies.
According to the SECP, the corporate sector will be cleared of money laundering.


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