SBP revokes license of Riaz Exchange after closure

MG News | March 05, 2026 at 01:54 PM GMT+05:00

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March 05, 2026 (MLN): The State Bank of Pakistan (SBP) has revoked the authorization of Riaz Exchange Company (Pvt.) Ltd to deal in foreign exchange business following the company’s request for voluntary closure of its operations.

According to SBP, the authorization of the company to conduct foreign exchange business has been revoked from the date of closure of its operations.

Accordingly, the company is no longer authorized to carry out any type of foreign exchange business.

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