Meezan Bank to Stop Processing Payments for Forex Trading and Similar Platforms

Meezan Bank Limited has issued a transactions advisory and said that it will stop processing payments to platforms involved in forex trading, CFD trading, and margin trading.

“As per regulatory directives issues vide SBP EPD Circular Letter No. 08 of 2022, Meezan Bank would like to notify its customers that Remittance of Foreign Exchange directly / indirectly outside Pakistan to overseas Foreign Exchange trading, Margin trading, and Contract for Difference (CFD) trading apps / websites / platforms through any payment channel is not allowed.” the bank stated.

It added that all payments to such Forex trading, CFD trading, and Margin trading websites / apps / platforms will not be processed through the bank’s payment channels anymore.