State Bank of Pakistan cancels license of Glaxy Exchange Company

KARACHI, Jan 23 (EPI): The State Bank of Pakistan on Friday has cancelled authorization/License of an Exchange Company.

According to press statement issued by SBP the State Bank of Pakistan (SBP) has, with immediate effect, cancelled the authorization/license of M/s Glaxy Exchange (Private) Limited on account of serious violations of SBP’s regulatory instructions.

The exchange company, including its head office and outlets, can no longer undertake any kind of foreign exchange related business activity.