KARACHI – The State Bank of Pakistan (SBP) on Monday cancelled the authorization/license of M/s PBS Exchange Company (Pvt.) Limited on account of contraventions of the relevant laws and regulations.
Therefore, the aforesaid exchange company, including its head office and outlets can no longer undertake any kind of foreign exchange related business activity.
The central bank had suspended/cancelled authorization/licenses of more than one dozen exchange companies for violation of laws and set regulations during the last six months.
