SBP suspends authorization of Orient, Bestway Exchange Company

MG News | November 18, 2022 at 04:44 PM GMT+05:00

0:00

November 18, 2022 (MLN): The State Bank of Pakistan (SBP) has suspended the authorization of two Exchange Companies, namely, Orient Exchange Company-B (Pvt.) Limited and Best Way Exchange Company-B (Pvt.) Limited for three months due to serious violations of regulatory instructions with immediate effect, the statement issued by SBP said today.

SBP has advised both companies to strengthen their Internal Control Functions and submit a report, of corrective measures to be taken in this regard, to SBP.

Both exchange companies, their head offices, and all branches/outlets have been restricted from undertaking any kind of business activity during the suspension period.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	158,408.02 109.65M	1.43% 2230.90
ALLSHR	94,789.80 199.06M	1.25% 1166.71
KSE30	48,715.26 51.21M	1.40% 672.21
KMI30	227,994.11 48.57M	1.30% 2924.53
KMIALLSHR	61,507.34 109.66M	1.05% 641.34
BKTi	45,783.49 20.27M	1.51% 681.24
OGTi	33,133.11 3.50M	0.03% 10.64

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	70,095.00	70,440.00 69,620.00	-100.00 -0.14%
BRENT CRUDE	86.92	91.05 86.24	-0.88 -1.00%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-17.60 -15.04%
ROTTERDAM COAL MONTHLY	121.00	129.25 118.95	-11.50 -8.68%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	83.20	88.59 81.79	-0.25 -0.30%
SUGAR #11 WORLD	14.32	14.57 14.17	-0.27 -1.85%