SBP revokes license of Money Masters Currency Exchange

MG News | September 02, 2025 at 07:26 PM GMT+05:00

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September 02, 2025 (MLN): The State Bank of Pakistan (SBP) has cancelled with immediate effect the authorization and operating license of Money Masters Currency Exchange Company (Pvt.) Limited.

The regulatory action stems from serious violations of the central bank's regulatory framework governing currency exchange operations in Pakistan.

The regulatory action, issued under directive ECD/M&PRD/PR/01/2025-68, prohibits Money Masters Currency Exchange Company from conducting any foreign exchange business operations across all its locations, including the head office and branch outlets.

The license revocation means Money Masters Currency Exchange Company can no longer facilitate foreign currency transactions, provide money transfer services, operate currency exchange counters, or engage in any forex-related business activities.

This latest action indicates the central bank's zero-tolerance approach toward regulatory violations in Pakistan's financial sector.

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