SBP suspends authorisation of two exchange companies

KARACHI: The State Bank of Pakistan (SBP) has suspended, with immediate effect, the authorization of an Exchange Company Namely M/s Al-Sahara Exchange Company (Pvt) Limited for a period of three (03) months on account of serious violations of State Bank’s regulations and instructions.

The Exchange Company, its head office, branches, franchises have been debarred from undertaking any kind of business activity during the suspension period.

In addition, SBP has suspended, with immediate effect, the authorization of an Exchange Company B Namely M/s Premier Exchange Company–B (Pvt) Limited till further orders on account of serious violations of State Bank’s regulations and instructions.

Copyright Business Recorder, 2023