SBP Cancels Licence of Al Raj International Exchange Over Regulatory Violations

ISLAMABAD: (Web Desk) – The State Bank of Pakistan (SBP) has revoked the licence of Al Raj International Exchange Company with immediate effect due to serious breaches of regulatory guidelines.

The central bank stated that the company violated rules governing exchange operations, prompting the cancellation to uphold transparency and discipline in the financial sector.

Following the licence revocation:

• The head office and all branches are barred from conducting foreign exchange or related business.
• The company is no longer authorized to deal in currency exchange.

This action reflects SBP’s commitment to strict oversight, protecting consumers, and preventing financial irregularities. The central bank emphasized that similar enforcement measures will continue against other entities violating regulations to strengthen Pakistan’s financial system.

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