SBP revokes license of another Exchange Company
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The State Bank of Pakistan (SBP) canceled the license of M/s PBS Exchange Company (Pvt.) Limited due to violations of laws and regulations.
As a result, the company’s head office and branches are prohibited from engaging in any foreign exchange business activities.
In the past six months, the central bank has suspended or canceled licenses for over a dozen exchange companies for not complying with laws and regulations.
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