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.
