SBP directs exchange companies to document every transaction

ISLAMABAD: The State Bank of Pakistan (SBP) has directed all the Exchange Companies and Exchange Companies of Category ‘B’ to document each and every transaction as per related regulatory requirements.

In a statement issued by the Central Bank, SBP warned that failure to comply with the above instructions would attract severe disciplinary action which might lead to suspension of the license of the company.

Further, apart from other reporting requirements, exchange companies of both categories are required to submit transactions report according to the statement issued by the bank.

Copyright APP (Associated Press of Pakistan), 2011