SBP Cancels License of Al-Hameed International Money Exchange Over Regulatory Violations
Karachi: The State Bank of Pakistan (SBP) has officially revoked the license of Al-Hameed International Money Exchange (Private) Limited under the provisions of the Foreign Exchange Regulations Act, 1947.
In a statement issued on [insert date], the central bank cited multiple contraventions of applicable laws and SBP regulations as the basis for this decisive action.
With the cancellation of its authorization, Al-Hameed International Money Exchange, including its head office and all branch outlets, is now barred from conducting any foreign exchange-related business activities, the SBP clarified.
This move highlights the SBP's commitment to ensuring strict adherence to regulatory frameworks and maintaining the integrity of Pakistan's financial system.
What's Your Reaction?
Like
0
Dislike
0
Love
0
Funny
0
Angry
0
Sad
0
Wow
0
