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.
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“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.