Karachi, December 10, 2024 – The Federal Board of Revenue (FBR) has officially designated 34 banks to act as agents under the Synchronized Withholding Administration and Payment System (SWAPS). This initiative is intended to streamline the deduction and collection of withholding taxes, integrating these functions into the advanced SWAPS portal. The designation was formalized through SRO 2041(I)/2024, with the FBR notifying the following banks as SWAPS agents: 1. Al Baraka Bank (Pakistan) Limited 2. Allied Bank Limited 3. Askari Bank Limited 4. Bank Al-Falah Limited 5. Bank Al-Habib Limited 6. Bank Islami Pakistan Limited 7. Bank of China Limited 8. Citi Bank N.A. 9. Deutsche Bank AG 10. Dubai Islamic Bank Pakistan Limited 11. Faysal Bank Limited 12. First Women Bank Limited 13. Habib Bank Limited 14. Habib Metropolitan Bank Limited 15. Industrial and Commercial Bank of China 16. Industrial Development Bank of Pakistan Limited 17. JS Bank Limited 18. MCB Bank Limited 19. MCB Islamic Bank Limited 20. Meezan Bank Limited 21. National Bank of Pakistan 22. Punjab Provincial Cooperative Bank Limited 23. Samba Bank Limited 24. SILK Bank Limited 25. Sindh Bank Limited 26. SME Bank Limited 27. Soneri…