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Business & Finance Print edition: 2024-12-10

SBP suspends money exchanger’s licence

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KARACHI: The State Bank of Pakistan (SBP) has announced the cancellation of License of M/s Al-Hameed International Money Exchange (Private) Limited with immediate effect.

The State Bank on December 09, 2024 has cancelled the authorization or license issued to M/s Al-Hameed International Money Exchange (Private) Limited under the Foreign Exchange Regulations Act, 1947 on account of contraventions of the applicable laws and SBP’s regulations.

Therefore, the aforesaid exchange company, including its head office and outlets can no longer undertake any kind of foreign exchange related business activity.

Copyright Business Recorder, 2024

SBP money exchanger’s licence

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