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Friday, January 10, 2025

Home Business SBP cancels license of Al-Hameed International Money Exchange

SBP cancels license of Al-Hameed International Money Exchange

by Staff Report
December 9, 2024
in Business

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KARACHI – The State Bank of Pakistan (SBP) on Monday has cancelled the authorization/license issued to M/s Al-Hameed International Money Exchange (Private) Limited.

The action has been taken under the Foreign Exchange Regulations Act, 1947 on account of contraventions of the applicable laws and SBP’s regulations.

Therefore, the aforesaid exchange company, including its head office and outlets can no longer undertake any kind of foreign exchange related business activity.