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Business & Finance Print edition: 2023-05-04

Rules violation: SBP cancel EC’s licence

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KARACHI: The State Bank or Pakistan (SBP) has announced cancellation of the licence issued to M/s Mega Currency Exchange Company ‘B’ (Pvt) Limited for noncompliance of rules and regulations.

The State Bank of Pakistan (SBP) Wednesday cancelled the authorization/license of M/s Mega Currency Exchange Company ‘B’ (Pvt) Limited on account of contraventions of the relevant laws and regulations.

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

Copyright Business Recorder, 2023

SBP foreign exchange Exchange Company

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