SBP revokes Time Exchange's license

MG News | June 23, 2026 at 09:34 AM GMT+05:00

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June 23, 2026 (MLN): The State Bank of Pakistan (SBP) has revoked the authorization of Time Exchange Company (Pvt.) Ltd., citing serious violations of regulatory instructions, in its latest move to tighten oversight of the country's foreign exchange market.

SBP said on Monday that the cancellation of the exchange company's license takes immediate effect, barring the firm, its head office and all branches from conducting any foreign exchange-related business activities.

The central bank did not specify the nature of the violations committed by the company.

The action highlights the regulator's efforts to strengthen compliance standards in Pakistan's exchange company sector, which has faced increased scrutiny in recent years as authorities seek to curb illicit currency trading and improve transparency in the foreign exchange market.

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