KARACHI: The State Bank of Pakistan (SBP) has revoked the authorisation and licence of Al-Hameed International Money Exchange (Pvt) Limited, effective December 9, 2024. The action was taken under the Foreign Exchange Regulations Act, 1947, citing violations of applicable laws and SBP regulations.
As a result, the company, including its head office and all outlets, is no longer authorised to conduct any foreign exchange-related business activities.
The cancellation reflects the central bank’s commitment to ensuring strict compliance with foreign exchange laws and maintaining the integrity of the financial system.The SBP has advised people to refrain from engaging in any transactions with the said company following this development.
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