SBP suspends authorization of another exchange company

MG News | September 15, 2023 at 08:44 PM GMT+05:00

0:00

September 15, 2023 (MLN): The State Bank of Pakistan (SBP) on Friday suspended the authorization of Royal International Exchange Company (Pvt) Limited with immediate effect until further notice, as per a press release issued by the external communications department of the Central Bank.

This suspension came as a result of serious violations of SBP's regulations and instructions by the aforementioned company.

The suspension also applies to its head office and all of its branches, which have been barred from conducting any form of business activity during the suspension period.

This decisive step was taken by the SBP to ensure compliance with the financial regulations and safeguard the integrity of the financial system.

The SBP has not disclosed details regarding the specific violations committed by the respective company but emphasized the severity of the breach, resulting in an immediate suspension of its authorization.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	185,098.83 381.92M	2.01% 3642.50
ALLSHR	111,509.35 956.25M	2.13% 2327.02
KSE30	56,737.75 167.91M	2.00% 1112.07
KMI30	260,872.72 165.83M	2.57% 6529.72
KMIALLSHR	71,488.31 461.39M	2.50% 1744.73
BKTi	53,691.60 50.03M	1.27% 672.83
OGTi	38,672.45 45.54M	4.90% 1805.03

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	94,930.00	96,060.00 94,395.00	-425.00 -0.45%
BRENT CRUDE	64.52	64.77 63.44	0.76 1.19%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-2.00 -2.25%
ROTTERDAM COAL MONTHLY	97.90	98.10 97.70	0.55 0.57%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	59.76	60.05 58.81	0.68 1.15%
SUGAR #11 WORLD	14.91	14.94 14.60	0.34 2.33%