Seven bread-making machines have been installed at Afghanistan’s state-owned bread factory, Silo-e-Markazi, or central silo, in Kabul, at a cost of 40 million afghanis, officials confirmed Monday. With these new machines in place, the silo is now able to supply the Interior Ministry, Kabul University and Kabul Polytechnic University with bread. Contracts valued at 450
Afghanistan’s finance ministry has collected 197 billion afghanis in revenue since the Islamic Emirate of Afghanistan (IEA) took over the country in August last year, an official said this week. Speaking in an exclusive interview with Ariana News, Mohammad Meraj Meraj, head of the Revenue Department of Finance Ministry, said that the ministry’s revenues are
KYC only in case of purchase of jewellery, precious stones value more than ₹2 lakh
January 09, 2021
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Finance Ministry on Saturday clarified that only purchase of jewellery above ₹2 lakh needs mandatory Know Your Customer (KYC).
“Any purchase of gold, silver, jewellery or precious gems and stones below ₹2 lakh does not require PAN or Aadhaar of a customer as mandatory KYC document,” a source in the Revenue Department of Finance Ministry said.
Sources said that the notification issued under PML Act, 2002, on December 28 is a requirement of FATF (Financial Action Task Force) where Dealers in Precious Metals and Precious Stones (DPMS) to carry out KYC and Customer Due Diligence only when they conduct cash transactions above ₹10 lakh. FATF is the global money laundering and terrorist financing overseer which as the inter-governmental body sets international standards aimed to prevent illegal activities on terror funding and money laundering.