The State Bank of Pakistan (SBP) has cancelled the authorization/ license issued to Al-Hameed International Money Exchange (Private) Limited under the Foreign Exchange Regulations Act, 1947.
In a statement, the central bank said that the action has been taken on account of contraventions of the applicable laws and SBP’s regulations.
The aforesaid exchange company, including its head office and outlets can no longer undertake any kind of foreign exchange related business activity, the statement added.
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