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Tuesday, November 5, 2024

Home Business SBP suspends licenses of three exchange companies

SBP suspends licenses of three exchange companies

by Staff Report
February 13, 2024
in Business, Featured, Pakistan

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KARACHI – The State Bank of Pakistan (SBP) has suspended the authorizations/licenses of three exchange companies for a serious violation of regulations and instructions.

According to a press release issued on Tuesday, the authorization of AA Exchange Company (Pvt.) Limited, Glaxy Exchange Company (Pvt.) Limited and Al-Hameed International Money Exchange (Pvt.) Limited has been suspended till further orders.

All the aforementioned exchange companies, head offices, and all outlets have been barred from undertaking any kind of business activity during the suspension period.