KARACHI: The State Bank of Pakistan has suspended the licenses of exchange companies for serious violations of regulations .
State Bank has suspended the licenses of exchange companies, licenses of three exchange companies have been suspended for serious violations of regulations and guidelines.
Among them are M/s AA Exchange Company, Galaxy Exchange Company and Al Hamidan International Money Exchange (Pvt) Limited.
The licenses of the above mentioned exchange companies have been temporarily suspended with immediate effect.
The said exchange companies will not be able to participate in business activities during the ban.
