ISLAMABAD: The National Database and Registration Authority (NADRA) and Capital Development Authority (CDA) on Wednesday signed an agreement with respect to the development of a comprehensive Biometric Verification System (BVS) solution for the process of sale, purchase, and transfer of properties.
The agreement was signed between NADRA Chairman Tariq Malik and CDA Chairman Amir Ali Ahmed, here at NADRA headquarters.
Under the agreement, the authority will develop and deploy a Biometric Verification Solution for the process of sale, purchase and transfer of properties.
The system will help reduce forgery and eliminate the deceptive attempts by illegitimate means or persons regarding the transfer of properties in the Islamabad Capital Territory (ICT). Approximately, 20,000 transactions of sale, purchase and transfer of properties take place annually in the CDA.
Malik, while speaking on the occasion, highlighted the importance of a Biometric Verification System for property transfer, a digitized solution that is meant to transform public service delivery by scaling down the risk of forgery and obviating proscribed transactions in property transfer.
The deployment of a digital biometric system foreshadows the attempts of an unlawful act by ensuring the identity of buyer and seller, he said, adding that the deployment of BVS will not only bring transparency to the CDA system but will also fulfil the compliance of Know Your Customer (KYC) in property transactions, he added.
He said that the NADRA has the capacity to verify the citizens and their family members biometrically to address the challenges faced by any organization.
The NADRA’s biometric identification system will provide an accurate identification and minimize the risk of unwanted breaches within the CDA. With this type of security system, transactions take place not just by affidavit but by biometrics, he said.
The CDA chairman said that the CDA’s ongoing digitization venture is further cemented with their partnership with the NADRA.
Copyright Business Recorder, 2022