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Friday, November 22, 2024

Home Business SBP suspends authorization of five exchange companies

SBP suspends authorization of five exchange companies

by Staff Report
October 11, 2023
in Business, Featured, Pakistan

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KARACHI – The State Bank of Pakistan has suspended authorization of five exchange companies due to violation of regulations.

SBP on Wednesday suspended authorization of M/s International Exchange Company –B (Pvt) Limited, M/s World Wide Exchange Company –B (Pvt) Limited, M/s World Exchange Company –B (Pvt) Limited, M/s Universal Exchange Company –B (Pvt) Limited and M/s United Exchange Company –B (Pvt) Limited with immediate effect and till further orders.

Head offices of these companies and all branches have been debarred from undertaking any kind of business activity during the suspension period.