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SBP Suspends 5 Exchange Firms For Rule Breaches

SBP Suspends 5 Exchange Firms For Rule Breaches

The State Bank of Pakistan (SBP) has revoked the authorization of several Exchange Companies in category B due to serious violations of its regulations and guidelines.

The central bank made a brief announcement that this authorization suspension would take immediate effect.

Read more : State Bank Suspends Exchange Companys Authorization

The affected companies are:

1. International Exchange Company –B (Pvt) Limited
2. World Wide Exchange Company –B (Pvt) Limited
3. World Exchange Company –B (Pvt) Limited
4. Universal Exchange Company –B (Pvt) Limited
5. United Exchange Company –B (Pvt) Limited

During the suspension period, all of these Exchange Companies, including their main offices and branch locations, are prohibited from conducting any business activities.