SBP suspends another foreign exchange company
he exchange company, its corporate headquarters, branches, franchises, and payment booths are not permitted to conduct any form of business operations during the suspension period.
Karachi: The State Bank of Pakistan (SBP) has suspended with immediate effect the authorization of another foreign exchange company namely M/s Royal International Exchange Company (Pvt) Limited till further orders for violating SBP rules and regulations on Saturday.
According to a press release, the exchange company, its corporate headquarters, branches, franchises, and payment booths are not permitted to conduct any form of business operations during the suspension period.
#SBP has suspended the authorization of M/s Royal International Exchange Company on violations of SBP rules and regulations. The exchange company can no longer undertake any kind of foreign exchange related business activity during the suspension period. https://t.co/HQpjSdr1OF pic.twitter.com/tw5Ab2vIAn
— SBP (@StateBank_Pak) September 16, 2023
The central bank halted M/s Usman International Exchange Company -B (Pvt) Limited's authorization last week with immediate effect until further orders.
The central bank's rules and directives have been seriously violated, and action has been taken as a result.
Turkish group bids below minimum fee for Islamabad Airport operations
- 9 hours ago
SIFC reviews initiatives for economic transformation
- 5 hours ago
2024 was a big year for Windows on Arm
- an hour ago
A two-pack of refurbished Blink Outdoor 4 cameras is more than half off right now
- an hour ago
Henry or Barkley? Jackson or Allen? No Watt? We picked a 50-player All-Pro roster
- 17 minutes ago
Submarine cable fault may impact internet services in Pakistan: PTA
- 5 hours ago