SBP cancels Al-Rahim Exchange license
MG News | August 17, 2026 at 08:28 PM GMT+05:00
August 17, 2026 (MLN): The State Bank of Pakistan (SBP) has cancelled the authorization/license of Al-Rahim Exchange Company (Pvt.) Limited with immediate effect, citing serious violations of the central bank’s regulatory instructions.
The decision deals a major blow to the exchange company, as the SBP has also prohibited Al-Rahim Exchange Company, including its head office and all constituent branches, from undertaking any foreign exchange-related business activities in any capacity whatsoever.
The central bank announced the action through its External Communications Department on Monday, August 17, 2026.
The cancellation means the exchange company can no longer conduct foreign exchange-related operations under the authorization previously granted by the SBP.
The SBP’s action comes amid continued regulatory scrutiny of exchange companies operating in Pakistan, with the central bank taking strict measures against entities found in violation of its regulatory framework.
The license cancellation is effective immediately, bringing all foreign exchange-related business activities of Al-Rahim Exchange Company and its branches to a halt.
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