The State Bank of Pakistan (SBP) on Saturday debarred Capital Exchange Company-B (Pvt) Limited, Karachi/Lahore, from undertaking any kind of business activity. SBP with immediate effect suspended the authorisation/licence issued on June 30, 2004 to Capital Exchange Company-B (Pvt) Limited to deal in sale and purchase of foreign currency notes and coins till further orders on account of violations of rules and regulations.
The company has been advised by the State Bank not to carry out any transaction till further orders as it would attract more severe penal action under the rules.