SBP revokes license of Glaxy Exchange for regulatory violations

MG News | January 23, 2026 at 04:56 PM GMT+05:00

0:00

January 23, 2026 (MLN): The State Bank of Pakistan (SBP) has cancelled the authorization/license of M/s Glaxy Exchange (Private) Limited with immediate effect, citing serious violations of the central bank’s regulatory instructions.

According to a notification issued by the SBP, the decision applies to the company’s head office as well as all of its outlets.

As a result, Glaxy Exchange is no longer permitted to conduct any foreign exchange related business activities.

The central bank emphasized that the action has been taken in the interest of regulatory compliance and financial sector integrity.

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