The State Bank of Pakistan (SBP) has cancelled the authorisation/license of M/s Glaxy Exchange (Private) Limited on account of serious violations of SBP’s regulatory instructions.
According to a press release issued by the central bank on Friday, the decision is applicable with immediate effect.
The exchange company, including its head office and outlets, can no longer undertake any kind of foreign exchange-related business activity.
SBP’s foreign reserves increase by $16 million to $16.087 billion
