KARACHI: Three prominent exchange companies’ licences were stopped on Tuesday by the State Bank of Pakistan (SBP).
“The licence of Glaxy Exchange Company (Pvt) Ltd, AA Exchange Company (Pvt) Ltd and Al-Hameed International Money Exchange (Pvt) Ltd has been terminated with immediate effect on account of serious violation of regulations and instructions,” according to a circular issued by the SBP.
“All of these exchange firms, their corporate headquarters and all locations have been banned from conducting any sort of business venture during the suspension period,” the statement said.
SOURCE: DAWN NEWS
