SBP Suspends License of 5 Exchange Companies

The State Bank of Pakistan (SBP) has suspended the license of five exchange companies due to various violations of the State Bank of Pakistan’s (SBP) regulations.

According to SBP, the authorization of the following exchange companies -B Category has been suspended till further orders:

• M/s International Exchange Company –B (Pvt) Limited
• M/s World Wide Exchange Company –B (Pvt) Limited
• M/s World Exchange Company –B (Pvt) Limited
• M/s Universal Exchange Company –B (Pvt) Limited
• M/s United Exchange Company –B (Pvt) Limited

All the aforementioned Exchange Companies –B Category, their head offices and all branches have been debarred from undertaking any kind of business activity during the suspension period.

Read more: SBP Currency Rates – Daily Updates.

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