The State Bank of Pakistan (SBP) has revoked the authorization of M/s Muhammadi Exchange Company (Pvt.) Ltd. to conduct foreign exchange business, effective immediately upon the closure of the company’s operations.
According to an official statement, Muhammadi Exchange Company is no longer authorized to carry out any foreign exchange activities. The move means the company cannot engage in buying or selling foreign currency or any related transactions.
The SBP has advised the public to refrain from conducting any foreign exchange business with Muhammadi Exchange Company, as it is no longer licensed to operate in this sector.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
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Jurisdiction: Pakistan